How Inflation Could Take A Bite Out Of Your 401(k)
While many retirement portfolios took a sharp nosedive at the start of the pandemic, times have changed. Retirement accounts are now back to pre-pandemic highs and the number of 401(k) millionaires hit an all-time record in the first quarter of 2021. But even if you've struck it rich with your investment portfolio today, there may be a new reason to worry. How much will that six figure 401(k) really be worth after inflation has eaten away at your portfolio?
Joining Cincinnati Edition to discuss inflation and the outlook for our retirement accounts are Wells Fargo Advisors Senior Vice President and Investment Officer Christopher DeSimio; and Northern Kentucky University Professor Emeritus of Economics Martin Giesbrecht, PhD. Chris DeSimio is a Cincinnati Public Radio board member.
Listeners are reminded that the information provided on today's show is general in nature and may not apply to their personal investment situations.
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