When I retire, will my money be worth the same as it is today?
Sadly, no. Inflation happens, so you need to consider the loss of purchase power. Below is a chart comparing the cost of stamps, movie tickets and vehicles over the span of 40 years.1
It may be a good idea to increase your contribution to offset the impact of inflation on your money.
More life stagesI'm just getting started | I've been saving & investing | I'm about to retire | I'm retired
1 Assumed inflation rate of 3.5%
3 National Association of Theater Owners, natoonline.org (2018).