Inflation is a persistent economic phenomenon that erodes the value of our hard-earned money, making the cost of living rise while wages barely budge. According to the Consumer Price Index Inflation Calculator, $1 million in 2021 would need to grow to about $2.14 million in 2045 to maintain the same purchasing power, assuming a 3% annual inflation rate. Financial guru Suze Orman offers ways to help retirement savings survive and thrive despite inflation, including staying invested in stocks for the long haul. Orman advises adjusting your stock and bond mix based on your age and retirement timeline. Social Security’s future is uncertain, so it’s wise to have a backup plan and consider delaying benefits if possible.

Read more at Yahoo Finance: Here’s How To Protect Your Retirement From Inflation