20 Second Advisor: Bear market & what can I do about inflation?
We are now technically in a bear market (investment markets down 20% from their peak). Some of the recent downward pressure is due to inflation expectations and rising interest rates.
I was listening to a podcast recently that was explaining the Federal Reserves’ role in trying to curb inflation. It made me think, “what can I do to help?”
I’m tempted to do nothing because “I’m only one person, and it won’t make a difference!” But that’s not true. Think about voting or sustainability. We play our small part and collectively we can make a difference.
Here are a few things I thought we can do:
- Give people experiences instead of material things (maybe go for a walk with your dad this weekend instead of buying a present)
- Buy used stuff instead of new
- Think twice before quickly buying something online. When possible, buy local. There is an entire supply chain connected to my order, and it helps me to think about that.
I realize this isn’t a perfect solution, and there are consequences if we all stop buying stuff. But, I’m always up for doing what I can to help. It also feels good!
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