Is Inflation Really Ruining Your Finances? (You Won’t Like the Answer)
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 18 August 2023
⏱️ 41 minutes
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Transcript
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| 0:00.0 | inflation inflation inflation we hear so much about inflation is it ruining your financial life |
| 0:12.5 | brunt i am excited about this because we've had a lot of conversations recently with folks whether |
| 0:17.6 | there be team members or clients or fans of the show that are like oh man this inflation |
| 0:22.4 | it's getting me it's getting me it's getting me it's getting me but we said okay yeah |
| 0:26.5 | we know that someone's going on with inflation but is that really the problem or is there |
| 0:33.3 | something else afoot going on yeah i'm worried people aren't going to like our answer because |
| 0:37.8 | we're gonna look this is one i love that we need to share some good news about inflation yep |
| 0:42.6 | we get to talk about look inflation's real we're gonna show you we're gonna separate out what are |
| 0:49.2 | the actual numbers of what's happening with inflation but then we're gonna go a step further |
| 0:53.6 | and actually tell you what can you control because you do need to be disciplined you need to make |
| 0:59.3 | sure that you're making good financial decisions because look we know that over the last two years |
| 1:03.9 | inflation has been a significant deal if you look at inflation from January of 2020 all the way |
| 1:10.4 | through the middle of 2023 it's been a wild ride reaching almost as high as a nine percent |
| 1:17.1 | increase in the price of goods year over year however it has settled down some as we've moved into |
| 1:22.8 | 2023 that right now current inflation levels are measuring it about a three percent change in what |
| 1:29.5 | they were last year so they have uh-subsided a touch but it's been a wild ride it's been something I |
| 1:35.3 | think has been have been felt by most consumers in this country well not even just consumers also |
| 1:40.6 | investors i mean talk about how much time we spend i feel like it's like you know when you go |
| 1:45.8 | to the grocery store and you see all the tabloids with everything now it's been in the if you're in |
| 1:50.3 | the financial world you spend all your time hyper focusing on what is the federal reserve going |
| 1:55.2 | to do so inflation as you said has dominated the last two years but we think it goes beyond that |
| 2:01.2 | yes the numbers have been bad but we think it goes much more beyond that we know so much a personal |
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