By Craig Erwin, Ph.D.
How do firms react to the highest inflation in decades? By raising wages. Firms like Big Lots, the Gap, and Titan Machinery will raise wages. On average, firms plan for wage increases of nearly 4% in 2022. Inflation erodes purchasing power and reduces the value of your savings.
What steps are you taking to protect yourself from inflation? Have you gotten a raise recently? How much? What strategies are you using to protect your savings and investments from the ravages of inflation?
For more information on inflation, the economy, and how to accumulate wealth for retirement, click on the following links:
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