> (Yes, there are asset classes that're historically good at being protected against inflation. But they typically represent a small part of a portfolio)

Isn't it the other way round? If you invest in shares, real estate or even gold, you don't need to care about inflation? Only fixed income like bonds is bothered by inflation.

(By moderate amounts of inflation. If the country you invest in descends into eg hyperinflation, the whole economy is going down, so shares won't hold up to well either.)