Inflation....The Silent Killer!

I remember when I was a kid, my grandma gave me a dollar to spend at the local Macs store. Oh wow, was I rich. I would walk out with a rocket pop, a length of fizzees, a package of pop rocks and a handful of Mojos. My Dad told me when he was a kid he could get a bag of chips, a pop and a comic for 25 cents. Holy crap! Nowadays with one dollar, you would be lucky to buy one item of candy from a convenience store and still walk away with change. Inflation is a bitch.

It's not easy trying to save up money when an invisible force is silently eating away at it. I can only imagine in 30 years how much money it's going to take to retire comfortably. If my wife and I both put $5000 a year into our TFSA and invest in quality stocks and reinvest the dividends, I'm hoping we can beat inflation and come out on top with a tax free income that will only keep growing with compounded interest. When a loaf of bread costs $100 dollars, I'm pretty sure CPP won't be able to cover the cost of a case of beer. Who knows what will happen in the next 10-30 years.