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planning for retirement. “The rela- At the Village,
tively minor infl ation rates of recent
years are probably going to give way
to substantial increases,” he says.
“Given the soaring prices for energy
and food, our personal infl ation
rates are already higher than the fi g-
ures we see in print.”
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retirement is about
Whatever your situation, infl ation
is destined to exert a major infl uence
on your future economic well-being.
Ignore it at your own peril.
Infl ation’s effect on
your retirement
Infl ation can vary greatly from year
to year. But, whatever the rate, it
relentlessly continues its work year
after year. Even the relatively low
infl ation rate of recent years would
take a signifi cant toll in time. After
10 years of a modest 3-percent in-
fl ation rate, that dollar bill in your
pocket would be worth only 74 cents
in today’s dollars.
Here are examples of how infl a-
tion imposes its subtle fi nancial ef-
fects: A person who paid $60 for a
week’s worth of groceries in 1985 is
paying about $109.67 for those same
items today.
If you paid $25,000 for a new
car in 1995, it will cost you approxi-
mately $35,419 to replace it with a
similar 2009 model. Ten years from K
The Village at Brookwood offers three affordable financial plans
designed to meet your unique needs. Our garden homes
and apartments include a range of floor plans. You will
also have the security of continuing care, when needed.
We’re conveniently located in Burlington, North Carolina
with easy access to cultural opportunities, a host of amenities,
now, a comparable new car will
the Durham VA Medical Center and Fort Bragg military base.
cost you about $45,339 (assuming
a 2.5-percent infl ation rate). How-
To learn more about your many choices,
ever, most economists expect that
call toll-free 800-282-2053
fi gure to be considerably higher.
or visit www.villageatbrookwood.org.
Calculating infl ation’s effects
over a period of two or more years
can be dauntingly complex. That’s
why it’s diffi cult to make simple
dollar-to-dollar comparisons from
one year to another.
If you’d like an easy way to gauge
infl ation’s effects on some of your
personal expenses, visit www.west
egg.com/infl ation. This easy-to-
use infl ation calculator adjusts any C h o i c e s C o m m u n i t y C o n v e n i e n c e C o m f o r t
given amount of money for infl a-
M A R C H 2 0 0 9 M I L I T A R Y O F F I C E R 6 9
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