At this point, I think we’ve moved on from the notion that the inflation we’re seeing could be considered “transitory.” It’s been with us for a while, and it will take some time before we see any effects from the Fed’s upcoming rate hikes.
Prolonged inflation is bad news for investors. In a traditional 60/40 portfolio, 60% of capital is invested in stocks and the remaining 40% in bonds. While the portfolio has delivered relatively consistent returns over the past few decades, it may be time to rethink this mix.
Another major difficulty for doctors is that everyone else sees them as rich, even if their incredibly negative net worth actually ranks them as being some of the poorest people on the planet.