Fighting the Inflation Bogeyman
How to Help Your Clients Combat High Inflation
With inflation at a forty-year high, there is no shortage of articles talking about what people can and should do to fight inflation. The general recommendations include reducing spending and debt, continuing investing, and if possible, increasing income. With so much advice already being given on the subject, what can you add to bring value to your clients? The following suggestions are some additional ways you can help your clients fight the inflation bogeyman.
- Reach out to offer your assistance. Many times, clients know what they should do, but they just need an extra nudge to do something about it. Reach out personally to your clients, either via phone, email, or old-fashioned mail, and let them know the specific ways that you can help them put into practice the advice they have already received. More specifically, here are three areas where you can help clients:
- Setting up and evaluating a budget
- Understanding what investment strategies they should be using
- Taking advantage of tax deductions and credits
- Bring up strategies during a scheduled meeting. As part of your practice, you may already have regularly scheduled meetings with your clients to review previously implemented strategies and to discuss any changes in circumstances as well as future plans. These meetings are the perfect opportunity for you to also discuss ways that your client can protect themselves from the effects of inflation and how you can help them carry out those plans.
- Collaborate with other advisors. As advisors, we are all on the same team. We all want to help our clients make the best decisions for themselves and their families and achieve their long-term goals and dreams. The current rise in inflation gives us an opportunity to collaborate for the good of our mutual clients, and we welcome the chance to work with you.
With so much information on inflation and the best ways to fight it bombarding our clients through news and social media, they can become overwhelmed and end up doing nothing. Because our clients depend on us to sort through the vast amounts of information and make recommendations, you can use these suggestions to help your clients fight inflation using strategies that will be the most beneficial to them.
MEREDITH | PC
4325 Windsor Centre Trail
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Flower Mound Texas 75028
214-513-1013
This newsletter is for informational purposes only and is not intended to be construed as written advice about a Federal tax matter. Readers should consult with their own professional advisors to evaluate or pursue tax, accounting, financial, or legal planning strategies.
You have received this newsletter because I believe you will find its content valuable. Please feel free to Contact Me if you have any questions about this or any matters relating to estate planning.
