(MoneyWatch) Americans are likely to get smacked by an unwelcome blast from the past — run-away inflation — in the not-too-distant future thanks to economic policies that are aimed at helping the economy today, says Steven Cunningham, director of research and education at the American Institute for Economic Research (AIER), a non-partisan economic think tank.
While this inflation won’t strike overnight — it’s likely at least a year away — some economists believe it will be double-digit and uncontrollable when it does hit. that makes it imperative that you act now to reduce the impact on your personal life. If you wait until inflation heats up to move, you’ll have lost the chance to help yourself survive it with a minimum of pain.
Here are six things you can do now to put yourself in a position to prosper in an inflationary environment.