Inflation is bad when you’re buying but great when you’re selling.
The cost of living goes up. The cost of food, energy, and housing all rise.
If your wage doesn’t rise at the same rate then your buying power decreases.
If your buying power is decreasing you can only buy necessities and not any luxuries.
If inflation is great for selling take advantage of it buy selling. Sell your time, talents and treasure. Use your money before it’s worthless.
Money is earned in direct proportion to the amount of value you are giving to the world. The bigger the problem you are solving the bigger the paycheck you will be earning. If you can solve a problem for many people then many people will pay you for it.
For your bank account to grow you attitude about money must change. Money is not inherently good or bad. Money is a very useful resource. It will enhance the type of person you are. If you are generous then it will give you more to be generous with. If you are evil then it will give you more to be evil with.
You must learn the language of money. The basics of accounting and finance. Assets and Liabilities.
I think there are lots of troubles coming, There’s too much wretched excess.
Charlie Munger
Charlie said this before the COVID-19 Pandemic. He was right there is too much excess and now there is about to be more excess added to the market. The US is adding close to $3 Trillion dollars.
What does this mean? Why does this matter for a business and for people?
It matters because everything is about to change. Your old life is never coming back and you better adapt to the new or get left behind.
Is $100 dollars a lot of money to you. The new $100 might be $1000. Inflation is driving up the cost of assets and driving down the value of the dollar.
