The inflation of 2022/Carlos Pueblo

 The inflation of 2022/Carlos Pueblo

the inflation of 2022 is the highest one in four decades that is what the newspaper says today. I have been throughout the severe inflation of the mid-seventy thill the late 80's and I know what the inflation is. When I came to the United States, I had little to be mentioned and what I had was a $375.00 a month stipend as a teaching assistant. I managed to pay $90 for the tuition, $90 for the apartment rent, and I even saved $400 after two years. It was the oil embargo of the 70's made the inflation of everything related to oil products. 

I came to Houston in 1977 and my paid was raised to $450 a month and I gave that $400 saving to my poor elder sister for her expensive at school in Kansas. My brother allowed me to stay at his home until I got married. At that time, I had purchased a condominium and a new house with minimum down payments and 9.75% mortgage which was very high inflation. One time, I even joined my elder sister to purchase a rental house with 12.75% mortgage gradually increasing rate of 1% each year, that was 1982. I have not in default for every house which I had owned. I didn't make a profit, yet I did get my money back with a little bit of diminished value after 20 years. During this period of hard inflation, I had been working and raising a family simultaneously. I have never received any of the welfare money and the un-employment benefit because both are not applied to my situation by laws.

I have been very lucky to be healthy and also I have saved to the maximum allowed to my retirement in mutual funds. For the past 10 years, the country has been experienced the economic boom as a matter of fact more than 2 decades. My retirement savings have been appreciated and I can maintain my frugal life style without any worry. This inflation of 2022 means no stress to me. As a matter of fact, I get my old investment of the oil stock money back, of course, not as good as high tech stocks in my retirement mutual funds. My retirement funds are down more than 20% this year and that is also the worry of the U.S. government because I can't pay more income tax.

People will get used to the inflation as long as we can manage to live through it. We must take advantage of our opportunity to work and to save for the funds available for a hard time like this.