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And looking at annual beans. We
need to look at both of those,

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and so we see influential factors.
Right. Energy prices are somewhat largely to

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blame here for the increase in the
headline for inflation. Like I said,

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that gas price increase of about three
point eight percent. Airlines we're coming up

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on spring break, right, so
a lot more people are traveling. We

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see prices raised about three point six
percent, and even just food cost increase

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on AVERORADEM about chin point two.
So we need to see this and I

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think we're going to see that trend
continue. You are listening to Carrie let'sa's

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00:00:32,960 --> 00:00:39,119
Financial Survival Network where you get valuable
information you just can't find anywhere else to

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00:00:39,320 --> 00:00:45,039
thrive in today's trying times. You
need the Financial Survival Network now more than

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00:00:45,079 --> 00:00:50,439
ever. Go to Financial Survivalnetwork dot
com and get your free newsletter and gift.

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Financial Survival Network now more than ever, and welcome you are listening to

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and watching the Financial Survival Network.
I'm your Earth, Kerrie Loitz. Don't

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mind the eye, just a minor
little thing that takes five days to get

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rid of and very annoying. Doesn't
look great, but hey, it is

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what it is so well, we
got a new guest on that I know

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you're going to want to hear from. Her name is your name is a

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Mindy Magadosh and Mindy retirement expert.
And we're talking about inflation here. So

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what's the good news on inflation.
Well, we'd like to talk a lot

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about the good news on inflation today
is you know, consumer prices raised three

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point two percent over last As we
look at inflation, it remains elevated,

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you know, ten year treasures about
four point one percent. But I really

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think it as we take a look
at this zero point four percent in presolver

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previous month is not you know,
it's not a big pitfall of oh my

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gosh, we weren't prepared for this. We've been prepared. We always talk

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about here at the firm, just
being prepared and having a plan is key.

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And I do think that February,
with the slightly higher than average the

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gains, we'll see a little bit
of a stick shelter inflation to largely to

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blame for, you know, just
core inflationary readings. And when we take

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a look at economists, this is
really what we're seeing here. And I

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think as we get closer and closer. Both measure you know, economic forecast

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month over month with increases, So
we know that data as we see even

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from Bloomberg and such. What does
it mean We better be saving though,

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we better be knowing where our funds
are going. How do we have a

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plan and stick to the core basics? Is really what I think here,

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Carrie. Yeah, so you think
it's going to abate or you think it's

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going to get worse, Well,
I think it possibly could get worse,

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because really, when we look at
these measurements, when we are forecasting this

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point four percent increase over and over
with data the core basis strips more volatility

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and costs of food, we see
gas prices toging, and really in February

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we see the climb a little bit
point four percent over prior month, and

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really these point two point three point
four we feel like it's not a lot,

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But in the scheme of things,
this is monthly, this isn't year

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over year. So we take a
look at these monthly changes. Both measurements

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are higher than the economics had really
thought. We're expectations and looking at annual

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beans. We need to look at
both of those, and so we see

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influential factors. Right, Energy prices
are somewhat largely to blame here for the

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increase in the headline for inflation.
Like I said that gas price increase of

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about three point eight percent. Airlines
were coming up on spring break, right,

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so a lot more people are traveling. We've seen prices raised about three

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point six percent, and even just
food costs increase on averagem about two point

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two. So we need to see
this and I think we're going to see

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that trend continue. All right,
So higher inflation, you know, you

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would think with higher interest rates would
come you know, lower housing price,

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and yet that's the opposite. We've
really been seeing opposite there. And I

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think that when we take a look
at housing prices out a hole, one

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nice thing would be is how do
we actually see when we see inflation on

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the rides, we see interest rates
changing, we're seeing that housing market fall

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right as far as how many new
home buyers. We're going to see that

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continue to scale inflection with the market. So when we see these interest rates

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tire, we're going to see more
of a whole pattern there. And I

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really just think that the market largely
expects, you know, some of the

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central bank to begin, you know, cutting rates maybe by June leading time,

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and so we'll continue to see this. We've seen a flow to even

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a labor market. So with the
labor market continuing to weaken some, it's

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taking people longer time to find jobs
and earlier. We're kind of in the

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early steps of signed here, so
not such major layoffs, but just if

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you are looking for a new job, it's taking longer to kind of plan

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and forecast one as well. Well, you know, you mentioned travel,

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and the airlines have been giving huge
pay in creases to their pilots forty plus

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percent, fifty percent, and to
their flight attendants and basically all their employees.

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So there's no place for airline prices
to go. Ticket prices, but

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up right, we really yeah,
and we're seeing that, we're seeing it

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go up. We're seeing a little
bit higher demand too in travel these days.

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So with the higher demand and travel, we are seeing, even the

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firm standpoint of the financial side,
more people are traveling now, so they

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call it kind of living their best
life. So and we're seeing way too

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many people are actually spending time on
their one or two week vacation, on

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the time that they put into planning
and their travel needs at hotels and what

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they're going to spend there. So
we are openings really firmly talking to folks

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about let's make sure that we're porting
in time plan will retire. Well,

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we call it our focused journey to
make sure that we have a budget.

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Do we know when our expenses are
and let's really look at you know,

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if you are looking to travel more. We know that costs are going up,

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haven't we you know, on the
foot of side of things prepared for

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that. We don't want to have
more credit card bills down the line,

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and we need to make sure we're
investing in saving it up at our retirement

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plan, making contributions to the four
to one case of I rate to save

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for later when you come into that
distribution thing, in saving for the future

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as well. Yeah, and trust
me, it's a lot closer than you

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think. So, but you know, we have this deficit. We're adding

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a trillion dollars every ninety days to
the deficit. Something's got to give here,

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right, Something's got to give.
I think we're going to see a

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lot of this with tax rates.
When we talk a lot about tax dvanagings

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here and I even say it can
go on twofold, right, So the

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taxes that we're paying today current tax
laws are due to sunset the end of

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twenty twenty five, so we know
tax rates are growing up. We also

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know that we're going to see this
influence you know, all classes, right,

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all classes of citizens that are going
to be paying a higher tax rates.

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So whether it's just on what we're
spending budget lies, extra trips,

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travel, paylans, our food,
gasoline, so not only just those,

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but as we take a look at
the CPI, it's also going to pertain

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to when we're with draw strategy inside
of retirement, where's our income coming from,

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how do we diversify asset classes?
And let's make sure that we're really

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careful of the legislative risks that we
are facing here, and you're absolutely right

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there, Carrie, to make sure
that when we're in even with draw our

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contribution strategies, are we being as
tax efficient as possible, because I feel

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we are due to pay heavier taxes
in the future and those probably aren't going

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up, so we need a plant
accordingly, All right, So market,

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so what do you what are you
supposed to do in this inflationary environment?

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How are you do you you know
it's hard enough to make ends meet,

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how do you up your contributions to
your retirement plan? Absolutely? Right?

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So as we are taking a look
at this, you know environment, your

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dollars and spending as far as you
used to. Right, so, we

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know that things are costing more.
Food is costing more, services are costing

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more. So I think that if
we can really focus on spending the first

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hour of every day and just investing
into your own future and putting that away

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for your retirement saving, and if
I can encourage any of you retire to

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retire and plan to retire in a
tax re envelope. So if you have

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raw fool or KA raw forral TREEV
options, please contribute there. You'd be

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glad you did. So that when
you're in your withdraw strategy, just think

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of that. If you're in a
twenty percent tax bracket and you can save

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twenty more cents today in a tax
re envelope, do so. It can

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grow an a keeguy tax for you
will draw it tax free. And just

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think of things in your expense land
or your budget sheet that you might be

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able to cut back in. Maybe
you don't need that extra cup of coffee.

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Maybe that extra trip to go out
to dinner tonight could be something that

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you do a home at dinner tonight. So just some of those things to

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carve out very small pieces will continue
to move that threshold for you to be

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able to focus on that future.
Yeah, I think back the head of

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kel Out gotten a hot world by
telling people they should eat cereal for dinner.

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You know, well, you know, I've seen it happen. We

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do have three own kids. It's
happened a few times. But I think

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if we plan accordingly, look too
right, look at it, look at

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food places, look at what's on
sale, plan your week. You can

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plan your meal, plan all out
week by week, and shop around the

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exterior on the you know, of
the of the shopping center and don't get

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bomb down. Then those extra things
in your car. All right, Well,

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you know he's kind of like Marie
Antoinette basically sell it telling the public

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let them eat cereal. Right,
Oh, we don't want to tell them

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that. We do want to make
sure that we're health based and health conscious

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and being focused there. But I
definitely think that you know, hey,

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you can you can definitely make dinner
at home. That cuts down then costs

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just different items. As you take
a look at what goes on sale week

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over week, try not to waste, you to think of good ways to

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have leftovers, anything like that.
I think that we can all put into

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a good plan. I know we've
sure them done well. I'm a farm

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girl, born and raised out a
farm, so we just kind of know,

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Hey, how do we get creative
with some of these things? And

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it still can all be pretty tasty. And you can still then say and

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look forward to the future and make
sure that we're planning ahead to forecast what

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we see coming. You know,
like one thing I found recently, and

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I'm not the coupon clipper by any
stretch. They got to make it as

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easy as possible for me or I
can't be bothered. But CVS where you

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used to get this receipt as long
as the Dead Sea scroll, Now they

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got an app and you can get
all that savings. And if you get

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this extra care cord, I think
it costs you twenty bucks. They give

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you ten dollars every month, and
then you buy all this other stuff that

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you're going to buy anyway. The
key here is not impulse out, but

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you wind up saving twenty thirty dollars
a month on stuff that you're buying anyway,

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you know, like sometimes I don't
know how CVS does it. Sometimes

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I go there and I'm waiting for
them to pay me money. Sure,

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Hey, you know, I think
that they're all looking for ways to make

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sure you're shopping at CBSS and that
some of their competitors. I think we

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could say that in a bunch of
different realms, look at you know,

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the online shopping shipped and admire and
all of this even to us. You

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know, if you take a look
at uh uh, middle aged families raising

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children, you definitely spend more when
you take the children with you, or

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even if you go on an empty
stomach to the grocery store, then you

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will look. You can actually take
a look at maybe items are on sale,

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what are they looking at for the
week. So I think if we're

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strategic in that and even seg that
out, we help a lot of our

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clients really look at what should we
be spending weekly and they trying to stay

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within that realm budget wise, So
we know this is what we're saving,

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this is our fun money, and
this is actually what we're going to use

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and suber goods. It's really helped, you know, really significantly move that

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needle to move the dial for them. It's really not a whole lot different

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than making sure we're staying well diversified
in the retirement portfolios and just looking at

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all the costs and allocations. And
if you really want to go broke,

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take your kids with you to Costco. If they try everything and then they

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want to buy it all, they
want it all. The self control and

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many of you out there, like
me, you have a limited self control.

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So why you should only go shopping
when you need stuff? Not as

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a retail therapy, right, Mendy, you bet you not retail therapy.

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Make sure we know needs at once
and plan well. All right, Hey,

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Mindy, tell us how do we
find you on the web? How

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do we connect with you and read
your work? Yeah, Carrie, best

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way to connect with me is you
can go to wealth Michigan dot com.

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On there you can read a bunch
of our different news reports. You can

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00:12:43,960 --> 00:12:48,559
recast her toolkit as well. I
really like to focus on education. My

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00:12:48,720 --> 00:12:52,679
latest book titled Cultivate Wealth. You
can request your free copy there and it'll

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00:12:52,679 --> 00:12:56,159
walk you through all the things is
of retirement savings, long term care and

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taxes, or you can reach out
via email. Mindy at Wealthmichigan dot com

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00:13:01,679 --> 00:13:07,320
happy to answer any questions, get
the toolkit out and really continue to plan

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00:13:07,440 --> 00:13:11,279
well to live well through a focused
retirement. All right, excellent eight.

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We will have a link to Mindysitewealthmichigan
dot com in the show notes of this

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00:13:16,320 --> 00:13:20,960
interview on Financial Survival Network dot com. While you're there, want to sign

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00:13:20,039 --> 00:13:24,039
up for our free newsletter. We've
got a new site up. It's called

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Inflation Cafe where dollars go to die, kind of inspired by my personal experiences

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at a well known coffee establishment that
shall go unnamed, and how I'm basically

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paying double what I was for the
same drink three four years ago, and

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plus the rewards have all been cut
back and all that good stuff. Mindy,

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really appreciate you coming on. We
will talk to you again soon.

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You have a great day you too. Thanks for having me, Carrie,

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Thanks for listening to Carrie Letz's Financial
Survival Network solution to today's trying times.

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For the latest, go to Financial
Survivalnetwork dot com. Financial Survival Network now

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more than ever