They survived the roaring inflation of the early 1980s and now they have some advice for younger generations: Take the bus, pack a lunch and skip the overseas vacation. “Millennials may have to make some lifestyle sacrifices,” said Larry Short, senior investment advisor and portfolio manager with ShortFinancial, iA Private Wealth. With the rising costs of necessities like food and fuel, some Canadians may be forced to rethink how they spend their money. Some difficult lifestyle changes may be needed, but Lovett-Reid said baby boomers faced similar challenges in the 1980s. Dorfman, who also started his career in the 1980s, said there are lifestyle changes younger adults who have never experienced inflation may want to consider.

Source: The Star May 26, 2022 22:02 UTC