Which do we choke? Inflation or possibly the nation’s fragile economic recovery? That’s a question the Federal Reserve’s Federal Open Market Committee is grappling with as consumer prices soar and global shortages of goods worsen. We have much to be thankful for in this upside-down economic cycle. While the nation’s GDP is surging, albeit when compared to last year’s economic shutdown, our economic recovery is facing some strong headwinds. Yet despite these challenges we thrive.

Today’s housing market is red-hot. HOWEVER, as housing inventory loosens once unavoidable foreclosures hit the market, and the Fed raises interest rates in an attempt to avoid excessive inflation older homeowners could find they no longer qualify for or desire a reverse mortgage.

Yes, the possibility that you’ll get a stimulus check is something to care about, but there are other aspects of this act involving taxes and RMDs that could directly affect retirees like you. It is important to know what’s in this bill that will affect you, to make sure you’re getting as much as possible out of your tax dollars.