The impact of inflation and how to protect your savings from losing value
Inflation is a phenomenon that impacts everyone, regardless of age, income, or occupation. It refers to the gradual increase in the prices of goods and services over time, which in turn reduces the purchasing power of money. As Warren Buffett once said, âInflation is the one form of taxation that can be imposed without legislation.â In this article, we will discuss the effects of inflation on your savings and investments, and provide strategies to protect your wealth from eroding due to inflation.
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