When I was younger (I’ll be 73 in a few weeks), I dealt with inflation by making more money. As a self-employed person, I could easily do that by choosing to raise my rates or work more hours.

Now I look for savings. Just in this past month I cut 10% off our yearly expenses - that’s thousands of dollars I will not have to fund from our retirement investments. It means that almost 40% of our RMD can be saved as cash or reinvested. At this moment, I’m putting it in cash because so much is in flux right now. When it all settles, I’ll invest again, but always keep a good pile of cash.