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Never if you are wealthy. That's the point. The things needed to survive are what inflation is based on, for a wealthy person that amount of spending is so much

Never if you are wealthy. That's the point. The things needed to survive are what inflation is based on, for a wealthy person that amount of spending is so much less than 1% it's negligible. You only lose the 3% of your money if you need your billion dollars to buy food and gas and general consumer goods. The cost of luxury items fluctuates wildly and isn't part of inflation.

benj111 4y ago
But you still need that money to keep up with inflation. If you have a billion dollars under the mattress and inflation is 3% you've lost 30 million dollars in spending power. That dwarfs anything you would spend on food yes. And the next year another 30 million, and the next year. So you need to invest to protect it from inflation, so inflation is relevant. The percentage they spend on food and stuff today is negligible. But you invest to keep it that way. Because once it becomes non negligible it's too late.