You can lose money in times of inflation by parking your money in safe havens!
The financial advisors at the Walton Financial Group in Barrie, Ontario provide investment advice to deal with inflation
From The Globe and Mail, June 18, 2021:
“Canada’s annual inflation rate accelerated at its quickest pace in a decade, influenced by the frothy housing market and supply-chain woes in some industries.
The Consumer Price Index (CPI) rose 3.6 per cent in May from a year ago, up from a 3.4-per-cent gain in April, Statistics Canada said Wednesday. That was roughly in line with what analysts were expecting. Price growth accelerated in nearly all major product categories.”
In situations like this, money stashed away in safe havens like savings accounts or GICs is losing value. While there is a place for these in your financial plan, there is a risk of losing money during inflationary times.
There are investment options available to you to mitigate the effect of inflation. Call the team at Walton Financial Group in Barrie, Ontario to arrange for a consultation with a financial advisor regarding the effects of rising inflation today.
