Retirees Affected By Inflation, High Housing Costs
By SCOTT KIMBLER With inflation at the highest rate in four decades, every facet of the economy is affected and that has put many people in the position of having to rethink their retirement plans. Professor Tom Smith of Emory University’s Goizueta School of Business says that people who are soon to retire and those just starting to plan for retirement can find themselves in quite a spot. “When you have these types of fluctuations, people have to reevaluate what they think retirement can purchase,” Smith said. “You’re going to be on a fixed income when you retire. You’ll either be on Social Security, drawing a pension, or whatever else. The higher the inflation is, the less buying power your…