Let's ignore stagflation for a second, because you will get armchair economists coming out making their confident total fucking guesses of the future.

Let's use a much more simple situation. Let's just call it "bad shit happening". What do you do as FIRE person where there is a prospect of bad shit happening?

Nothing. It's built into the plan already. You keep working, you keep saving, you have your emergency fund. You hope for the best.

FIRE is not guaranteed. There could be a crash and depression and every one of us is going back to work.

If shit does happen, depending on what form it takes, THEN that's when you figure out the best way out of it. The smart ones will figure a way out. But some won't make it. Shit happens.

No one knows if there will be inflation next decade. There is a VERY real chance of deflation too. No one knows.

Stay on plan. That's the plan right now.