×

Rising inflation is nothing to take lightly

Our winter season is moving in and a long cold winter is ahead. Most of us will survive it, many will enjoy it and others will endure it. But it will happen and it will end and summer will return.

Another phenomenal event taking place is the changes in our economy. Due to many factors, we have entered an inflationary period. As a senior citizen with all of my earning years behind me, this inflation scares the hell out of me. What money we have managed to squirrel away over these 80 years along with our retirement pensions should allow us a secure and comfortable retirement. However, inflation is a raging bull. You only have to crack any history book to find what has happened many times over, all around the world.

What may not sound bad now will be taking 6-10% of your money’s value each year, just like taking it from the bank and burning it. Then it will be 15%. Before long, we could be like Venezuela, where that retirement account of $500,000 will not even pay a month’s rent. Please do not believe it can not happen here in America. It can and will if we are not very careful.

BRUCE WILTSE,

Alpena

Newsletter

Today's breaking news and more in your inbox

I'm interested in (please check all that apply)
Are you a paying subscriber to the newspaper? *
   

Starting at $4.62/week.

Subscribe Today