Inflation Creeping Into Personal Finances

Justin Lopez, AIF®
April 25th, 2022

If you have a balance on a credit card or an adjustable-rate mortgage, you might be noticing changes in your payments. Higher interest rates are starting to ripple through the personal finance landscape, and it doesn’t look like that trend will change anytime soon.

The Federal Reserve has indicated it plans to keep raising short-term interest rates to help manage inflation, which is at its highest level in 40 years. You’re likely seeing the effects of inflation when buying gas or groceries, and you’ll notice it if you are shopping for a new or used car.

The Federal Reserve’s job is to control inflation. By raising interest rates, the Fed hopes to slow spending, bringing down consumer prices.

Time will tell whether higher interest rates will prompt us to consider changes to your portfolio. Remember, your overall strategy considers that there will be transition periods in the economy.

In the meantime, you may want to look at I Bonds, which are issued by the U.S. government and earn a fixed interest rate plus a variable interest inflation rate that’s adjusted twice a year. I Bonds have certain purchase limits, restrictions, and tax treatments, so they generally play a limited role in your financial picture.

If you have any questions about inflation or interest rates, please reach out. We’re always here to help put things into perspective.

Disclosures: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Concord Wealth Partners, or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Concord Wealth Partners. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Concord Wealth Partners is neither a law firm, nor a certified public accounting firm, and no portion of the newsletter content should be construed as legal or accounting advice. A copy of Concord Wealth Partners’ current written disclosure Brochure discussing our advisory services and fees is available upon request or on our website. Please Note: If you are a Concord Wealth Partners client, please remember to contact Concord Wealth Partners, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing, evaluating, and/or revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Concord Wealth Partners shall continue to rely on the accuracy of information that you have provided. Please Note: If you are a Concord Wealth Partners client, please advise us if you have not been receiving account statements (at least quarterly) from the account custodian.

Join The Conversation

CONTACT US

Give us 15 minutes to listen to your situation, then we will connect you with an advisor ready to help you reach your financial goals.

This field is for validation purposes and should be left unchanged.
SMS Consent

You may opt out by replying STOP or ask for more information by replying HELP. Message frequency varies. Message and data rates may apply. You may review our Privacy Policy to learn how your data is used. Your data will NOT be sold or distributed to third parties. We maintain consent of our recipients in a client database.

Request Download Partnership Overview

This form is to request an overview of the partnerships Concord has to offer.

This field is for validation purposes and should be left unchanged.

YOU ARE LEAVING THIS WEBSITE

If you click “I agree to proceed” you will be redirected to an external website.

Concord Wealth Partners, LLC

If you are a client of Concord Wealth Partners, LLC (Company) attempting to access your “Client Login Account.” By clicking “I agree to proceed” you are electing to participate in the password-protected access portion of Company internet website. I understand that my participation will allow me to review certain investment-related information accessible from the Company website sourcing from unaffiliated third parties. This password-protected access is made available to clients of the Company free of charge. This authorization shall continue until it is canceled in writing. I understand that the password-protected section is a secure web site intended only to allow a client access to information relative to his/her/its specific account. I also understand that I will be assigned an individual password. I agree not to share my password with any other person. I hereby release and hold Company harmless from any adverse consequences relative to any failure by me to keep the identity of my password secure.

Otherwise, by clicking “I agree to proceed” you are acknowledging that you will be redirected to a third-party website. Such third-party website may not be affiliated in any way with the Company, and no content on the website should be construed as the Company’s approval of or affiliation with the website. If you do not wish to be redirected, please close this window.