Navigating High Inflation Periods

<p>Inflation is happening, and there are a lot of different perspectives on it. Most people view it negatively, but it doesn&rsquo;t have to be that way. It&rsquo;s not as scary as they make it out to be.</p> <p>In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about inflation&mdash;what it is, the backstory behind it, how it works, what to consider, and how to navigate the changing environment.</p> <h3><strong>Topics Discussed:</strong></h3> <ul> <li>What is inflation? When prices increase over time</li> <li>With or Without Inflation: Supply and demand to survive and drive up prices</li> <li>Government Involvement/Responsibility: Makes money, pricing more complex</li> <li>How It Works: Stimulus payments save jobs and give people money to spend</li> <li>Short- vs. Long-term Inflation Spike: Data shows short-term blip will correct itself</li> <li>Rule of 72: Translate percentage return to time period to when it doubles the cost</li> <li>How susceptible are you to inflation? Go back to basics and refer to Inflation 101</li> <li>Physician&rsquo;s Income: At minimum, compensation needs to keep up with inflation</li> <li>How susceptible are assets to inflation? Depends on efficiency (i.e. cash, stocks)</li> <li>Beware: Avoid fear, manipulation, people selling scams due to hyper-inflation</li> <li>Takeaways: Understand inflation basics - general awareness, keep pace with it</li> </ul> <h3><strong>Links:</strong></h3> <p><a href="https://www.whitecoatinvestor.com/inflation-basics/">Inflation 101: What You Need to Know About Inflation</a></p> <p><a href="https://www.bls.gov/cpi/">Consumer Price Index (CTI)</a></p> <p><a href="https://financeforphysicians.co/contact/">Contact Finance for Physicians</a></p> <p><a href="http://financeforphysicians.co">Finance for Physicians</a></p>