Time to Protect Yourself Against Rising Inflation

Across the country, prices are skyrocketing and fewer products are readily available in grocery stores, etc. We’re all feeling the strain of the inflation which rose by 6.8% in 2021. 

 

Sadly, inflation is another dividing line for many Americans. We blame the “other” political party and those who support it; we blame other countries or the global market, but what actually causes inflation and how can we protect ourselves against it? 

 

There are two theories as to how inflation happens. Cost-push inflation means that higher costs raise the prices of goods. The second theory is demand-pull inflation, meaning the demand for products is greater than the ability to produce them. Our weakened currency obviously comes into play with the surge of product demand, supply chain breakdowns, and other factors. 

 

Unfortunately, we are currently seeing the biggest inflation jump in over 30 years. Some of ways that individuals can help weather the storm are by investing in stocks and real estate, advancing education and earning potential, and by putting back an additional 1% per year toward retirement.

Source: Expensivity