There are plenty of ways that inflation may have a negative impact on our finances, but there may be a silver lining. In this episode of Edelman Financial Engines' Everyday Wealth™, Jean, Soledad and Edelman Financial Engines wealth planner Isabel Barrow break down what may be some positive news when it comes time to pay your taxes. Next, the hosts tackle the challenges of leaving a legacy from first generation wealth – from how to know if you have enough to where to start once you do. Later, Dr. Wei Hu, vice president of financial research at Edelman Financial Engines, joins Soledad, Jean and Isabel for Investing Sense, to talk about what hindsight bias is and how it could be affecting your assessment of your investments.

This show is prerecorded, and any callers are prescreened.

Ms. Chatzky and Ms. O’Brien receive cash compensation for acting as hosts of the Everyday Wealth radio show and podcast and for related activities and, therefore, have an incentive to endorse Edelman Financial Engines and its planners. That compensation is a fixed sum paid on an annual basis; and reimbursement for certain expenses. The amount paid each year does not vary, is not based on show content or any results-dependent factors (e.g., popularity of the show).

Neither Financial Engines Advisors L.L.C. nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances.

This show contains a hypothetical illustration meant to demonstrate the principle of compound interest and is not representative of past or future returns of any specific investment vehicle. They do not include consideration of the investment fees or expenses, time value of money, inflation, fluctuations in principal or taxes.