Having the global reserve currency is really important. It allows you to print money where other people can't. The dollar is a long way from not being the global reserve currency, much further away than most people should worry about. It was the pound sterling, for example, until the end of the Great War. America deciding inflation doesn't matter is only important in the face of what other currencies do. If, for example, the dollar inflates 30% against the Euro, that makes American goods cheaper in Europe and European goods more expensive in the US. It encourages European investment in the American economy and discourages American participation in the European economy. All these things are good from an American trade standpoint. But if you have carefully calculated that a $750k 401(k) will allow you to retire at 65, it has just become the equivalent of a $500k 401(k). You're putting off retirement until 72, at which point you'll have to look at it.