How to build wealth during a high inflation period.

I am excited to talk about this today because I feel like one of the questions we're getting all the time being financial advisors doing this for a living having this be part of our day job as man what do I do I've heard about inflation I've seen inflation I'm literally living inflation right now how do I think about it how do I approach it how do I keep myself protected I think a lot of people are asking in that that question right now we I like to say we were early to the game on this is that we've done some content on inflation

you know I think in a cover in a second when we did our last show on inflation was about a year ago inflation was still listed about 2.6% if you tie it back to see P.I. we are over 7% and as I'm shared with you guys you know the C.P.I. is adjusted in some ways that in a lot of other aspects of your life it's much much higher than that stated 7% this guy it impacts you tremendously from

what you're buying at the grocery store to the cars you buy the houses so we want to kind of give you how do you navigate this and then I wanted to I liked how we kind of adjusted this show where we actually want to go a deeper dive on how you bake the decision making so you don't get caught up in what's temporary what's things you just need to alter your mindset so you're doing the right things for your wealth building so maybe you just trip to cross us you just stumbled on this if that's the case makes sure you go check out our website go to money guy dot com

we have tons of things out there tons of resources tons of things you can take advantage of but perhaps you're asking the question inflation I'm not familiar that what is that well quite simply inflation is simply the rate at which the price of goods and services rise over a state of period of time so something cost X dollars today and that service or that good will cost X plus percent tomorrow or next year 10 years from now it's just a general increase in prices through time I think it's pretty what's amazing to me about inflation is how it impacts

your thought of what things cost meaning that I think if we'd all looked back two years ago we've already our brains been expanded to accept the new prices in some way so that's why it's good to go back and review so you can see through the cloud of this all all the all the updates that are going on around us we've actually I want I had Daniel we kind of talk to him and said hey give us some slides on the history of inflation because a lot of people right now this is your first time of really getting something

that goes outside the bounds of that 2% 3% 4% a year yeah it's it's interesting you were you were saying Brian I think for a lot of our audience a lot of the folks that are

living in this world right now consuming this data have potentially never lived through like a significant inflationary environment I mean even even if you look at the last decade right the last 10 years

you can see that inflation hasn't been too too crazy right it's been sort of normalized until we get into the 2021 2022 time fair and that's exactly so we're popped up over 7%

yeah I mean if you look just look how far we've come we did a show march of 2021 inflation was right there in line I mean right under 3%

let could go wrong and then here we are we have this hockey stick where this thing shot straight up and we're kind of what is this

due to your wallet was a studio investments was this due to where you live and how you live your life we're going to jump into that

now and so one of the things we know is that history often has a way over repeating itself so one of the questions that if

this is your first time experiencing inflation or maybe you've experienced it before but you're thinking oh is this

a new paradigm is this an enormous is this something we've not seen before we thought to be interesting to kind of rewind and look at

what's inflation look like in this country over a longer time period than just 10 years so if you zoom all the way back to

1914 until through 2021 inflation has been a wild ride in terms of what we've seen as a country as consumers over the last 100 plus years or so

I think it you know looking at this from a broad macro sense you can tell that world wars obviously create scarcity they

they drive up inflation so that makes sense in the past in the early 1900s and the 1940s what was going on there 70s

I mean I look you weren't around but I was I kind of remember some of those crazy things that's why we even make jokes

around the house when we go to a Costco line of it man it feels like you know the Carter administrations back in

because that was one of those periods that we we all live through but also notice if you look at the chart from a

...