Part 4/7:
Inflation: Over the past four years, inflation rates have surged, causing a significant increase in the cost of living. Many older adults may have relied on assurances from economists and government officials claiming inflation was "transitory," only to find themselves struggling under sustained economic pressure.
High Interest Rates: Recent trends show credit card interest rates have risen dramatically, affecting borrowing costs for many. The shift from previous lower rates, such as 3% or 2%, to averages exceeding 20% puts retirees at a disadvantage.