It may not be at the top of your mind right now. However, when planning for your retirement, inflation needs to be taken into account. The reason? Over time, inflation erodes the purchasing power of your savings like a silent thief in the night. As prices rise, inflation is especially damaging to retirees who are on fixed incomes.
Traditionally, annuities provide a steady flow of income. However, they do not always account for inflation’s corrosive effects. Luckily, inflation-protected annuities (IPAs) offer a solution.
