Saturday, February 13, 2010
Inflation and how it affects us
Inflation is basically, your money losing purchasing power.
Take for example, your 100 rupee note, 10 years back it could buy say, 50 apples, today it can buy, lets say 25, after more 10 years, may be it will be able to buy only one.
Imagine this, for everything you need on a day to day basis, like petrol, food, and other important things such as medicines, education, etc.
But rather than being scared or surprised by this, you need to plan for it, by investing your money, in assets which will deliver returns which can beat inflation. And help you retain and enhance your buying power.
This is only possible, if you start acting right away, and invest your money for the long term, save for your retirement and also create a good investment portfolio.
Bottom line :
You can choose to beat inflation or get beaten by inflation. The choice is obviously yours.
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I choose to beat inflation. I'm going to contribute the max in my 401(k). I'll stop eating out, shopping, spending my money on frivelous things that don't hold their value. I lose the most valuable things in the world anyway, so why continue spend money on these material things, right?
ReplyDeletebuy gold, as dollar will lose value
ReplyDeletegold is one thing, that will retain its value
and ya, do what you need to save enough for your retirement
dont live beyond ur means, its not possible to do so, in the long term, in the short term it can work
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