Inflation is high in July as the economy rebounded. Has the economy really rebounded…in certain segments-maybe. Inflation is high relative to this time last year. June versus July, inflation has dropped. Used car prices have declined. The bottleneck of supple is subsiding.

Higher prices pull supply out. On the commodity bubble are Food, houses, and Crude oil. Weather is also a factor.

What is baby boomers’ biggest risk? It is cognitive decline. It is a topic people don’t want to talk about but it is a real risk to their future security. It needs to be discussed and addressed. For those 57-75 years old, there is an estimated 50 trillion in household assets. 25% of these households are in do-it-yourself funds. There is a rate of cognitive decline of 12% for those 70-74 and 45% for those that are 80-84 years old. People who manage money for themselves are usually a committee of one. This does not always make for a healthy money management plan.

People behave differently when they save and spend actual money as opposed to invisible money otherwise known as electronic money or using credit cards using credit is easy. It makes spending easier and saving harder. Cash is physical. The act of spending physical and parting with a physical object creates more awareness of the activity. even more so when you can hearing or see the ringing of the cash register.

If you embrace technology you can set up recurring savings to help you accumulate for your retirement account.

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