Welp, High Inflation Hasn’t Gone Anywhere — What It Means For Your Money

You don’t need to be reading the financial news every day to understand the reality of what’s happening around us: despite promises from certain political campaigns, inflation has yet to go down meaningfully, and costs only seem to be continuing to rise. Case in point: my best friend comes over with a homemade dessert about once a week, and he has pivoted all of his recipes to egg-free options now that the cost of a dozen has gotten so out of hand. I’m sure many of us are similarly adjusting our spending habits, at least in the short term. But what about your long-term financial strategy?

Frankly, one of the worst things you can do during a time like this is to not invest at all — and in their latest video, our friends at Edelman Financial Planners have plenty to say about the role of inflation in your long-term wealth strategy. As financial planner Isabel Barrow says, “I know what the worst investment is against inflation, and that’s basically cash.” That doesn’t mean you should eschew your emergency savings goals and try to time the market with ill-thought-out stock picks. But it is a reminder that investing is a long game, and sometimes, the trick is to just your accounts alone, and maybe take a break from looking at them.

Check out the full video below, and be sure to check out the full Ask The Planners series — all produced by TFD!