Where’s My Stuff? COVID Supply Chain Problems & Financial Planning

by | Jun 28, 2021 | Financial Independence

Where’s My Stuff? COVID Supply Chain Problems & Financial Planning

by | Jun 28, 2021 | Financial Independence


It’s happening all over the place this year: NO ONE is getting their stuff on time.  ????

Everyone’s constantly logging into their email, checking their “shipping updates” links, only to find frustrating news:

Your new furniture is still stuck in an Indiana warehouse.

The gifts you wanted for your dad’s birthday still haven’t left that USPS facility in Philadelphia.

That cool home decor you ordered doesn’t seem like it’s ever going to get off those cargo ships I see out of my window.

I know, it’s frustrating.

Pandemic-related disruptions of the supply chain, a shortage of workers and truck drivers, and a surge in demand that far outpaces supply are all contributing to the snail pace of getting your stuff.

Not only that, prices are rising on just about everything. In fact, consumer prices have risen on average more than 5% in the past 12 months, according to the Labor Department. That’s the fastest rate of increase since 2008. Prices for used cars and trucks led the charge with an increase of 29%.

And have you noticed your Uber rides costing more these days?!? ???? Transportation services have increased 11% in the past year.

So, after you stop screaming about getting your stuff and the higher prices, what do you do?

Put your built-up, frustrated energy to good use and review your financial plan.

No one knows how long the delays and price bumps will last, but it’s always a good idea to adjust your sails as needed to ride out the storm.

Call us to set up an appointment. We can help.

 

Jackie Kleinman, CFP™, is the principal of KB Financial Advisors. Jackie started her career in financial planning in 1996 at an insurance and brokerage firm. She enjoyed the client interaction, but was bothered by the conflict of interest inherent in commission planning. In 2002, as an advocate of fee-only planning, she opened her doors to assist clients in growing their wealth and enhancing their lifestyles by combining investment advice, taxes and setting each individual’s priorities and goals.

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