UPDATE APRIL 2023
HYPERINFLATION HAS JUST BEGUN.
Back in the ’70s during President Carter’s Administration, the cost of living skyrocketed. The City of New York Was facing bankruptcy. At that time while completing my MA at NYU I worked as a New York City taxi driver. I had just moved to the “Big Apple” and needed to earn additional money to pay the bills while also establishing a music studio. As the music studio flourished I was able to stop cab driving. During this time I became aware of New York City and New York State politics and the role of the Federal government.
I learned about inflation, stagflation, and hyper-inflation over a 12-year time frame. It looks as if history is about to repeat itself. The best way to deal with the financial crisis that has begun is to become the best you can be at what you are presently doing. After your regular job, continue with your education in that field or a related field. Develop skills that will allow you to stay employed. The skills I developed allowed me to be employed for 40 years.
Back in the 1990s, the 55 / 20 rule was very popular with those who wanted to take early retirement. To me, it made little sense and so I just kept working and working and working. My SECRET was that I loved what I was doing and didn’t perceive it in negative terms, as many of my colleagues did.