With the Federal Reserve’s recent move to pump another $1 trillion dollars into the US economy, the possibility of rising inflation is highly likely if not imminent. Simply put, inflation happens when prices rise due to the falling inherent value of a currency and usually occurs when the government prints money it does not have. Inflation is harmful because prices rise, but wages do not rise as quickly.
Inflation is also harmful to investments and savings. In order to actually grow your money, your money must grow at a faster rate than the current inflation rate. When your money grows at a rate slower than inflation, you are actually losing money because your $1 today will purchase less in the future.
For this reason, your investments must beat inflation. Gold is usually a popular investment to combat inflation because it is a precious metal that holds it’s value and will appreciate relative to currency. Gold is a decent investment, but I prefer (continue reading…)
Late last year I wrote about how American Express 
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