This is episode 138 of You, Me, and BTC – your liberty and Bitcoin podcast!
We don't think about it very much, but inflation is a serious killer. I recently had some retirement plans running through my head and wanted to see how much value my savings might lose throughout my career. A quick check informed me that the US Dollar has lost a whopping 75% of it's buying power over the past four decades.
We barely think about inflation from day to day, but over time, that rate is truly devastating. It means that even if you work hard for 40 years, invest well, and manage to save $2 million, your money will really only be worth about half a million dollars. So if you hoped to retire on $100,000 per year, you'd actually have to live on $25,000 per year. That's insane.
Today's show is all about the hidden evils of inflation. We're only in our 20's and we've already seen pizza prices rise from $5 to $6. What can we do to prevent this incredible loss of value? Should we avoid fiat currency as much as possible? Could Bitcoin solve our problems?
Tune in for a crazy chat about inflation, retirement, investing, and saving! Your hosts are Daniel Brown, Tim Baker, and John Stuart. Enjoy!
Leave a comment and tell us how much you think you'll need to save for retirement!
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