Welcome to the Stay Walthy podcast. I'm your host, Taylor Schulte, and my goal was to start to move away from current events for a while and get back to the nerdy planning and investing topics that we all love.

But it only feels appropriate to address what's going on in the world right now.

So today I'll be sharing,

one, an update on the recent inflation report. Number two, why my previous inflation

comments and predictions were wrong. And three, the probability of a recession, plus what

retirement savers should be doing. So if like most investors, you're nervous about the current

environment and looking for some guidance, today's episode is for you. For all the links and

resources mentioned, just head over to you staywealthy.com forward slash 146.

Prior to invading Ukraine, Russia provided one out of every 10 barrels of oil to the world.

But that's changed now that the U.S. and other countries have banned oil imports from Russia.

As a result, the global oil market is facing its biggest disruption since the 1970s.

You see, the price of oil was already rapidly increasing due to the pent-up

demand from the pandemic and the related shutdowns. For context, the price of crude oil was around

$30 in the middle of 2020. Last week, it almost hit 130, an increase of over 300%. Now, I'm not here

to talk about our dependence on fossil fuels or how to solve

this energy crisis or whether or not our leaders in Washington are making all the right decisions.

There's enough of that circling around at the moment and this is not the podcast for that.

What I want to focus on is what the current situation means for you, for your retirement plan,

for your investments and what to potentially

do in response. To start, inflation was already a hot topic after reaching its highest level

in four decades. But with a war breaking out and a looming energy crisis here, inflation is

getting worse and the trend is likely going to continue. Some trusted experts suggest that we'll

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