We’re taking a break from our focus on Europe this week to check in on the rapid inflation that’s having all sorts of effects on Americans. Then, we’ll talk about some great places to travel to if you’re a foodie.
Inflation is an interesting subject because it has its pros and cons. The ways people feel the effects of inflation largely has to do with who they are. This article gives a good overall look at the effects of inflation, for those who want to do a deeper dive.
First of all, for lower income families, it’s always bad–especially when not met with a proportional rise in wages, as is the case currently. Inflation significantly hurts the economically disadvantaged population because they are often living hand to mouth as it is. And if it costs over $70 to fill one’s gas tank, people who live in more rural areas with a lower cost of living who have to commute to their jobs are going to be feeling the pain. People who are already on the line of poverty might find themselves on the wrong side of it if it continues to cost an extra $200 a week to feed their families. Of course, those on fixed incomes can also be hurting these days.
There are people who benefit from inflation, including those who own investment properties. Housing prices will rise, along with everything else, so that means homes and properties are worth more. Some people are even taking the path of buying real estate as a hedge to stocks, which comes with risk. If you’re thinking of investing in real estate right now, please give us a call so we can talk through your specific situation.
Oil companies are also doing well, reporting if not record profits then very strong ones. Other businesses are hurt by inflation if consumers can no longer afford their products. As such, the effects on the stock market vary a bit by industry, with some feeling no effects, others doing well, and others struggling. Remember, we always keep your portfolio balanced so you don’t need to worry about having all of your eggs in one basket.
With COVID cases decreasing, many workplaces are asking people to return to the physical office space. This can be good if they’re hiring more people, but hard because of rising fuel prices in commuter-heavy areas.
The long-story-short version is: inflation has good and bad sides to it, and it depends on who you are and the context of the times you’re in. We hope that you and all your loved ones are able to ride out this inflation moment without stress–and we’re here to help you do that.
Since cutting waste is something on everyone’s mind right now, with food prices as high as they are, we found it interesting that Google has cut food waste by changing the dishes they use.
Essentially, they set out bowls that were one inch less deep than they had previously been using, which lead to people (who can always go back for more food) taking 30-50% less at mealtimes, and which they report lead to 30-70% less food waste.
Other ways to cut food waste include knife skills that help with precision so that, for example, less edible fruit is taken off the top of a strawberry when it’s cut; finding new recipes for parts of food that we might not use ordinarily, like a broccoli slaw with the shredded and peeled broccoli stems; and composting food waste for use in growing more food, which is something we can all do in our vegetable gardens.
That’s it for us this week! Let us know if you need anything, and remember, we’re always here for you.
How We Help
Estate planning is top of mind for many people–wanting to make sure your family has what they need is one way to show love. We had meetings with three different people this week in which much of the conversation centered around estate planning, special needs, funding trusts appropriately, and checking an estate plan off the to-do list.
It’s worth remembering that planning is crucial but implementation is the key to success and true peace of mind.
On that note, we had a super turn out for the MillionHEIR Mindset on Tuesday, March 8th with over 60 attendees!
And back by popular demand, we’re doing an ENCORE presentation, March 24th @ 1 PM via Zoom, you can register here.
We are also working on getting others scheduled for the rest of the year and we’ll be sending out registration links soon. Topics will range from real estate, identity theft, Social Security, and more!
Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Securities are offered through Triad Advisors, member FINRA/SIPC. Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.