Quote:
Originally Posted by Michael G.
Inflation is rough on retired seniors on fix income everywhere.
Coping with the high cost of gas, cars, food, and many
other products, what's your plan on fighting inflation?
Do you drive less?
Do you eat out less?
Do you socialize more with friends at home?
Did you cancel travel plans this year?
Just curious on how you're dealing with 2022 so far.
Cheers !
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You cannot fight inflation any more than you can fight gravity. Seniors on a fixed income. That is true of most of us. We all received a raise in social security some with pensions will receive or may received a cost of living increase.
REALITY, the CPI consumer price index is now roughly 10%. You pay that with after tax money. To be even, I need to make roughly 15% on investments. I've done pretty well for the year it is less than half what I need to be EVEN.
Most posts are complaints. We do not drive anywhere near what I used to do when I was working. We do have a mortgage and I could pay it off but the rate is below current market and I am still getting more on borrowed money than my cost to borrow it.
Imagine a family of four. living pay check to pay check. Driving to work on gasoline now over $4.00 a gallon with a mortgage. The average American has, I read somewhere $10,000 in savings.
Lucky? It seems good luck come to those who WORK HARD and SAVE HARD.
We've been told to eat lentils. Background they are the beans highest in protein. Hum, we just went on our grocery run. A pound of lentils was a dollar. It is now a dollar and eighty-nine cents. I make a great lentil soup. Sadly true. There is or used to be a website with recipes from the 1930 depression.