Understanding the Impact of Inflation on Your Money
One easy lesson… here’s what will happen to your money!
The current inflation rate (CPI) is 3.1 percent. What does that mean for your money? Jim Rickards at the Daily Reckoning sums it all up in just a few words:
How damaging is 3.1% inflation? That rate will cut the value of the dollar in half in 22 years. It’ll cut the value of the dollar in half again in another 22 years.
Put differently, if you start your career at the age of 21 and retire at 65, the dollar you earned at age 21 will only be worth 25 cents by the time you retire. That’s 75% wealth confiscation by government-caused inflation.
There’s nothing benign or comfortable about 75% wealth confiscation. But that’s where we are today.
And that is the story in a nutshell.
“There’s nothing benign or comfortable about 75% wealth confiscation. But that’s where we are today.”
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