Very few people spend much time thinking about inflation rates. But Taylor Schulte, a financial planner and host of the "Stay Wealthy" podcast, said he always keeps that in mind when working with his clients.
"It's a sneaky expense that hides behind the scenes and, over long periods time, can be one of the biggest threats to an investors nest egg if not accounted for," he told Business Insider.
Inflation rates can impact the market, so Schulte advises running retirement planning scenarios with inflation in mind.
"That should give you some additional confidence needed to sit back, relax, and enjoy your newfound freedom," he said.