You can spend it now on things that reduce your costs in the future (dry goods, energy efficiency). You can take on fixed rate debt at an interest rate lower th

You can spend it now on things that reduce your costs in the future (dry goods, energy efficiency). You can take on fixed rate debt at an interest rate lower than inflation (a home mortgage). If you want to store your wealth: The suggestion for I bonds is the safest approach, but you can only put a limited amount in, and you will still lose a little: most experts believe that government inflation numbers under-represent inflation (the debate is by how much, if you buy an I bond you hope just a little). Otherwise, investors look for "hard assets". A hard asset will maintain its value, going up in nominal dollar terms when the dollar loses its value. This is a reason why real estate has gone up so much recently (and gone up historically). Most investments appreciate with inflation. Stocks however risk a rapid negative response to the current market conditions because they have already priced in the value of monetary policy being loose and it is currently tightening to counter inflation (this is more true of growth stocks). Similarly these aren't good conditions for most bonds. Commodities and gold historically have done much better in high inflation conditions. Gold is a very simple way to replace a depreciating currency with hard money, but commodities may have better tail winds in our supply constrained environment. Bitcoin is a digital hard asset that deserves mention for investing with a speculative amount of money due to additional risks.