Impact of Inflation Skip to main content Home About Us Our Mission Statement Meet Shanika McCloud Our Services Our Qualifications Tell A Friend Resources Articles Calculators Flipbooks Newsletters Glossary Tax Library Videos Request A Quote Annuity Long-Term Care Insurance Life Insurance Disability Income Insurance 401(k) Information Request Information Request Contact Us Weekly Newsletter! Client Login connect Address: 3954 Springfield Rd. Glen Allen, VA 23060 Phone: (703) 599-3398 E-mail: shanika@awsmithfinancial.com Printed from: www.MccloudWealthManagement.com McCloud Wealth Management 3954 Springfield Rd., Glen Allen, VA 23060 (703) 599-3398 | shanika@awsmithfinancial.com Impact of Inflation Over Time, What Is the Long-Term Impact of Inflation? According to the Bureau of Labor Statistics, inflation has averaged about 2.5 % over the past 10 years. Over time, the effects of inflation can erode the value of your savings. At the end of an inflationary year, a dollar buys a little bit less than the year before. This calculator is designed to estimate the future cost of an item based on today’s prices and the rate of inflation you expect. The results below show the projected future cost based on the time frame you selected and the rate of inflation you expect over that period. How will you stay ahead of inflation? There are strategies you can implement to help your savings and investments keep pace with inflation over the long term. Skip Table Information Your Results Description Amount The current cost of what you want to buy: $0.00 How many years before you will buy this item: 0.00 years Annual inflation rate that you want to assume: 0% The future cost based on the information you entered: $0.00 The graph below illustrates the incremental year-by-year increase in prices based on the factors you input. Even at relatively low rates of inflation, the cost of goods and services can rise dramatically over time. For example, assuming 4 percent inflation, the value of $1 would be cut in half every 18 years. That means if you are currently 30 years old, prices will have quadrupled by the time you reach retirement age, assuming 4 percent annual inflation. Impact of Inflation Previous Next Calculate Print Contact This hypothetical example is used for illustrative purposes only. Actual results will vary. This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek advice from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2022 Broadridge Investor Communication Solutions, Inc. Site Map Back To Top Check the background of this investment professional