I was wondering what everyone's thoughts are on inflation destroying the purchasing power of your wages.
For example, In Canada, (based on the average rate of inflation from 1914-2009 and monthly inflation source source:Stats Canada) if that average rate of inflation is kept the same ....in 45 years the average monthly income will be less than $500 per month (in Today's $ value).
What is my point? It's this: at some time in the future inflation will make life very hard to live. $500 a month in Canada will only get you a room to yourself and groceries. No car, clothing -anything else. Just basic life support for the average Canadian.
Is there something I'm missing? What is the long term solution to this? Self sufficiency? Ideas/Comments?
-NIM
Start planning for things now. If I go buy a pants now I buy two and have a few more than what I need now so I could go a few years without buying any. I have several pair of good thick socks stocked up and an extra pair of shoes. You can live without a car http://www.bikeforums.net/forumdisplay.php?20-Commuting We moved to the suburb where all the jobs are moving to ,could have moved elsewhere and gotten a much larger house for the $ but were in the middle of everything here, could easily pick up a second job if needed. Pick the worst house in the best neighborhood.
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