If there is high inflation you can always sell your house fast for cash, but how does inflation affect your long term goals? Country Financial Security Index conducted a survey on 1,023 U.S adults. More than half said that rising costs may have a negative impact on future goals like buying a house or retiring comfortably.
“Everyone’s concerned about inflation,” said Troy Frerichs, vice president of investment services at Country Financial. He is not surprised that people are worried about rising expenses. Last year we felt a little bit of inflation when you compared the Q1 of 2022. There is a lot of going on with the stock market volatility, higher inflation and rising interest rates. More than 50% of people that participated in the study said they fear the recession.
A lot of Americans think that bigger financial goals like paying off the debt or saving for retirement are the most challenging. Also buying a home is getting out of control in today’s market. Things like starting a family, traveling or buying a car, concern most people. Taking a long term perspective on the things that matter it’s always a good idea.
I’m reading a lot that higher prices are normal in that phase of rising inflation. Higher prices of gas or groceries in the stores are the new normal and you most likely will have an emotional response without a long term plan. It’s important when you plan ahead and you are worried about your expenses.
‘’If someone can’t sleep at night, that’s always a good time to check things out, and to stress test the plan’’ – Troy Frerichs Vice President Of Investment Services at Country Financial.
You know that we are buying houses for cash and you can sell your house fast by calling our office at 847 242 2212.