Inflation WILL Start Rising Soon... And Here's What To Do About It!

What are those good options out there that, hey, I could utilize my cash value or the value what I have in that asset when, you know, things have gone to a point where inflation's high and it's still not going to put me in the penalty box. Well, that's where I want to be.

Inflation is here. That's a really important thing right now, very topical. And we're going to talk about what you can do about it. Let's talk about what is inflation? Well, inflation relates to the cost of living. So for example, the measure that's used is what does it cost to buy a trolley of groceries, to have a full shopping cart of groceries? What is the cost to do that? Anyone who's been to the supermarket lately, like myself, would have noticed probably that the cost of the same amount of groceries compared to what it cost me to get those groceries, say a couple of years ago is quite different now. And it's gone up by quite a bit in terms of what my average weekly expenditure is on groceries has increased and it increased in many things. But that's usually the measure that's used for that. So we're going to look at a couple of strategies that you can use to mitigate this because unfortunately it doesn't look like it's changing anytime soon, that's for sure.

Like I, I think we, what they come out with, the numbers in September were over 4% and I think it's got, you know, even, you know, we're going to see that pressure for a while. I just read something in the last few days where it looks like it's not a short term kind of high period of inflation. So yeah, let's be prepared for as we go to the grocery store, that bill just gets higher and we're going to have to get creative on how we can keep those grocery bills down at a level that fits well within our budget. And that's where I think people notice it is it's starts to impact their budget every month because what you used to be able to do for X amount of dollars now takes that many more dollars to do it. So groceries is exactly where most people feel it, even though there' other things that are definitely going up at the same time.

So let's dive into the first thing that we want to talk about that you can do to navigate the growing cost of items and that is to look at assets that also rise with inflation. So having assets in your portfolio or in your tool belt or your bucket, however you like to look at it, that are actually Going to continue to rise. When inflation does something that is often typically talked about, obviously not in all areas. So you have to be aware that this doesn't work in all situations. But often real estate is something that does rise with inflation. That would just be an example. And like I said, you make sure you do your due diligence and make sure that it is in an area where there is inflationary pressure as well with that real estate. Because not all real estate is created equally. Understanding that there are assets that are out there that do rise with that changing environment as well. So sort of doing your homework and looking to see what assets you could add to your portfol to kind of assist with this change in the money supply in the amount that you have available for you to purchase goods, there's.

Different schools of thought. So I'm just going to encourage you to really take your time and really do your homework on which ones would be a good fit for you. Because again, there's a lot of variables that happen out there in our world and we just can't control all those things. So do your due diligence really study, look at history. I always say history doesn't guarantee that it's going to work out the same, but it gives you a higher level of confidence to look back, look at the last time inflation was high. What were some of the assets that did well and then do some more investigating around those. Are those still going to be assets that do well this time or not?

I think that's really important, Dan, because I think lots have changed in our world since the pandemic. And certainly industries that we all believed, you know, two years ago were very solid. For example, the airline industry have obviously experienced some big changes and shift that homework and not just the homework for, you know, looking back in history just the last few years, but actually a fair way back and seeing what worked well in different circumstances is really important to just really make sure that you've got really good knowledge about what is likely to manage. And that brings us into our other point of having assets in your tool belt that going to continue to rise in value, but you still have access to liquidity. So if we go Back to the 2008, 2009 stock market crash, the people that really found that create, you know, eroded much of their wealth were people who needed to access those assets. So if they needed to, then they did lose money. People who were able to ride out the storm and wait until the environment changed again, didn't lose as much money as those other people. Having a variety of assets in your tool belt that will enable you to have money that's continuing to grow as well as have access to liquidity so you can make the most of opportunities and also be able to manage the changing cash flow required in different environments.

I always coach people around, you know, don't have your eggs all in one basket. You know, you should have it where you've got options and if you've got your, you know, all of your value placed somewhere where, you know, if this goes this way or this goes that way, it's going to hugely impact you. And, you know, you need to pull, you need to access the cash. And the way that would look is like you've penalized yourself because of the timing. You don't have a very good balance in your portfolio when you think about it. And I always think about, what are those good options out there that, hey, I could utilize my cash value or the value what I have in that asset. When things have gone to a point where inflation's high and it's still not going to put me in the penalty box, well, that's where I want to be. And within the last month, I did a video on what I recommend people do to help with inflation and to shield yourself from inflation. And you can just go to our channel and you can catch that video. It gets into lots of details about a very specific product that Liz and I both work with every day. And it will, it's one of those places. And the reason why I love using that not only for inflation, but just for what Liz spoke about is because you can access your value without stopping the growth of your money. And that's, you know, we're speaking very much about dividend paying, whole life insurance. And I just encourage you to go to that previous video I did. It's on inflation. It just helps you understand how that is one asset that can really A, provide you with liquidity and B, help you stay ahead of inflation.