Make These Moves Today to Prevent Inflation From Crushing Your Fixed Income

The annual inflation rate currently stands at 3.8%, which means your money is worth 3.8% less than it was this time last year. And when you're living on a fixed income, that fact can be scary. If there's a bright spot in any of this, it's that there are moves you can make to combat the impact inflation has on your finances.  Even if you find balancing your portfolio about as fun as a root canal, it's a vital step to take if you want to take control of your finances.Kevin J. Brady, senior vice president of WealthSpire Advisors, told AARP, "The best investment to hedge against inflation is simply having enough stock exposure." Brady's advice makes sense, given that the average annual return of the S&P 500 index has hovered around 10% -- typically well above the inflation rate.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool