Inflation is at 7.5%, the highest in 40 years, and it continues to go up.
The combination of built up consumer demands, supply chain constraints, and the government printing money have all contributed to the rate continuing to rise. Check out The Wall Street Journal article talking more about this.
The current interest rate at Chase bank is 0.01%, which is pitiful!
You might feel like having access to cash in a savings account is “safer”, especially with economic and political uncertainty. However, putting your money in a bank account, is not a safe place in an inflationary environment.
If you put $100,000 in the bank today and inflation continues at the same rate…. in 2 years your $100,000 will only have the purchasing power to buy items equivalent to today’s $85,500.
What can you do to protect your hard earned money? Don’t just save your money, INVEST it and buy PROVEN cash flowing assets.
Watch my video talking about how investing in apartments can protect you from inflation.