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inflation

How to Protect Your Wealth Against Inflation

As we enter 2023, we have to be extremely calculated with our savings.  Inflation is here, and it’s everywhere.  You see it in the grocery store, the dry cleaners, the local bar – literally everywhere.  Today I’ll cover how you can protect your wealth against inflation and put yourself in a position where your wealth doesn’t shrink every time you turn the corner.

Tips on Protecting Your Investments vs. Inflation

Avoiding the effects of inflation entirely may seem impossible, but I’m here to tell you today that there are many moves you can make that will help you sleep better at night without making major financial moves.

#1:  Portfolio Diversification is Key

While it’s always wise to have a balanced portfolio that includes stocks, bonds, and mutual funds, it’s even more of a key to have more diversity when we enter times of market turbulence.  Enter diversified commodities, like industrial metals, energy, and precious metals.  Also take a look at real estate stocks, agriculture, and foreign stocks.

Suggested Reading:  Example of a Diversified Portfolio

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Are you prepared for what’s ahead?

#2:  Examine Your Budget 

Personally this is something I have reeled in lately, and a big reason is because the corporate deduction of 100% on meals and entertainment has reverted back to the pre-covid 50%.  I spend a lot of money eating out in general, and entertaining clients is a part of my business but the level of capital committed to client retention should be examined with this in mind.  It’s also great way to continue keeping your wealth during trying times as dining out is a luxury and not something that is needed.

#3:  Don’t Keep Everything in Cash 

Going to cash can be the first thought process people have when they know the markets are headed south, but that’s not always the best idea.  Yes, it feels safe, but when you miss the rebound you’ll pay dearly.  According to an article on Fidelity, missing out on the market’s best 10 days over 4 decades has decreased wealth by as much as 55%.

—> Our founder, Arthur Karter, advises everyone to allocate up to 40% of your retirement savings in a gold IRA.  For more information and to get a free gold IRA investing kit from Goldco, click here.

#4:  Beef up Your Emergency Fund

Most financial advisors will urge you to keep 3-6 months of cash around in an emergency fund.  While this is a rule of thumb for normal times, you need to squirrel away more cash ahead of potentially toxic times.  If we enter a recession, you’ll need to add more money to this fund “just in case.”  The housing market won’t be as liquid, meaning real estate closings won’t be as quick if you need to exit a property.  Should you lose your job, finding new employment will become more difficult, and opportunities just won’t be as abundant.  Planning ahead for these times financially can help you overcome any potential financial hardships.

#5:  Tighten Up Loose Ends

Make sure that in times of market volatility you are aware of your positions and take advantage of tax harvesting.  Be aware of your homes value, as increases in home values will lead to higher tax bills.  If you end up losing a lot of value in your retirement savings, now may be the time to pay the taxes on it and put it in a non-taxed account such as a Roth IRA.  Making swift moves during a recession will pay off in spades when the economy eventually decides to roar back.

These are just five ways you can protect your assets from inflation.  We feel very strongly about investing in gold and precious metals, and you’ll see that’s where a lot of our content efforts are focused.  If you are interested in learning more about precious metals investing, visit our preferred partner, Goldco.  You’ll get a free precious metals investing guide that covers all you need to know about precious metals investing by using your retirement. It’s our #1 tip to safeguard your portfolio ahead of what’s coming.

Aaron Beard

About 

Hi, I’m Aaron, and I hated personal finances with a passion, and I didn’t want to do anything with them until a friend kicked me in the shin (it really hurt) and showed me that I have idle and unmanaged retirement accounts. This has opened up the world for me to transfer them into alternative savings. Now it’s so easy to self-manage my account, and whenever my commitment dwindles, I’m reminded of it on rainy days…

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