Retirement Coach Greg Taylor discusses how higher gas prices and inflation will affect your retirement and income planning.

Dublin, OH – December 7, 2012 – Greg Taylor, Founder and CEO of Legacy Retirement Group, LLC, recently discussed how gas prices will affect your retirement planning and how inflation is a “stealth tax” waiting to happen.

“Gas prices affect us in many ways. The vast majority of what we eat and what we wear gets to stores by long haul truck delivery. For example, higher oil prices increase the production cost of fertilizers and food processing and these higher costs are passed on to consumers in the form of higher prices at the grocery store. As these cost increases ripple across multiple supply chains, they can push core inflation higher,” remarked Greg Taylor.

The inflation rate in America is based on the Consumer Price Index (CPI) and is calculated by the government monitoring a “market basket of goods and services” to accurately index the cost increases we all deal with over time. The Bureau of Labor Statistics explains that the CPI represents all goods and services purchased for consumption by the reference population. These goods and services are broken into major categories such as Food/Beverages, Housing, Apparel, Transportation, Medical Care, Recreation, Education/Communication and others.

“The CPI does not include investment items, such as stocks, bonds, real estate, and life insurance, since these items relate to savings and not to day-to-day consumption expenses,” explained Greg Taylor. “I found that quite interesting, because it is blind to market pressures and it excludes taxes which we already know are going up, starting in 2013. So, my clients who are in retirement face an increase in their cost of living due to higher taxes, but there isn’t any relief for that cost.”

Greg also offered three insights as to how this information informs the retirement-planning strategies for his clients. “First, taxes are undoubtedly going up. Second, regardless of economic maneuvers (what they call quantitative easing), what our clients buy is likely to get more expensive – even if the government’s ‘basket’ doesn’t want to own that reality.  Finally, we keep a close eye on our income-planning strategies, so that the retirees who place trust in us can continue to live the lifestyle they earned.”
For more information on this topic, or to learn how Greg Taylor can help, please visit http://www.legacyretirementgroup.com/.

About Greg Taylor:

Greg Taylor is commonly referred to as the “retirement coach,” and has been serving and educating retirees for over a quarter of a century. In 1994, he founded Legacy Retirement Group, LLC in Dublin, Ohio.

Taylor is a member of many distinguished industry organizations. He was recently named, ‘Advisor of the Year’ by a national industry organization for his commitment to client education and perseverance in reaching out and assisting Ohio’s community with retirement planning issues.

As a veteran of the financial services industry, Taylor has the knowledge and expertise to help retirees and those transitioning into retirement develop a comprehensive plan to protect against taxation, inflation, long-term illness and probate. Taylor attributes his success as a Financial Advisor to his passion for helping others, his pursuit of providing financial security in the golden years and his commitment to client satisfaction.

Taylor is the host of an hour-long radio show every Sunday morning on 610 WTVN. He also has several exciting initiatives in the works including a weekly television show, but the crowning jewel is his best selling book, “Winning Retirement”.