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This is going to get ugly!
The country's debt is ever increasing, personal savings plummeting, energy at an all-time high, housing prices through the roof, student loan debt at an all-time high, vehicles at an all-time high, goods are expensive and limited due to COVID/war, and the FED is still sitting at near 1% so not much relief possibility there.
The country's debt is ever increasing, personal savings plummeting, energy at an all-time high, housing prices through the roof, student loan debt at an all-time high, vehicles at an all-time high, goods are expensive and limited due to COVID/war, and the FED is still sitting at near 1% so not much relief possibility there.
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I'm by no means an expert, but if at all possible pay off any debts and accumulate as much cash as you can. As the graph above is indicating, it is hard for most due to the rising costs of everything.
From a retirement standpoint, I am fortunate enough to have a couple decades before withdrawing so I'll continue to invest and weather the storm and the next one. If you're near or in retirement and haven't modified your portfolio then you're too late.
From a retirement standpoint, I am fortunate enough to have a couple decades before withdrawing so I'll continue to invest and weather the storm and the next one. If you're near or in retirement and haven't modified your portfolio then you're too late.
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I think it all boils down to oil, which means it really boils down to Russia/Ukraine. If oil keeps going up, I don't see how the FED can do much about inflation unless they just force a major recession and crater the economy. We'll see if there is enough time for new production to come online and start bringing the price down before everything implodes.
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