Title. If I believed my country was about to experience large increases in inflation, similar to Turkey how can I best position myself for the future and what should I take care of now, before it happens?
Would it make sense to only make minimum payments against debt? Should I spend money instead of saving it? If I don’t need to make a large purchase now but will in the future, should I go ahead and do it?
edit: I’m talking about 30%-80%+ inflation folks, not the kind of inflation most developed countries have exprienced in recent memory. If someone had enough money to invest in things which could survive that then they wouldn’t have to worry about debt payments and making big purchases. I am asking for practical advice for the average person, not a way to invest.
Hmmm, If I were you, I would try to find an index that historically has been profitable over time and that fits you well.
For example, S&P500 has around 6% inflation-adjusted profitability (if I recall it correctly). Of course, that doesn’t mean that S&P500 has had that profitability in any span of time, it’s just an average. That index is american, you can invest in some that belongs to your country or any other country you feel comfortable with.
Of course, there is always a risk in any investment you do.
And I repeat, this is NOT a financial advice, I’m just a random person from internet, just answering based of my personal experience.