Quote:
Originally Posted by tophcfa
Inflation over the last three years is truly a game changer. We were extremely lucky to have retired before this all happened and purchase all the big ticket items we will hopefully need for the rest of our lives (with the exception of automobiles). I feel sorry for the recently retired that need to live on a fixed income.
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If you have cash savings, you have real interest income for the first time in over a decade. If that fixed income is Social Security, it’s gone up 17.8% in the last 3 years. If you own a home, the value is up significantly. If you have stock investments, the market is at an all time high. If your IRA or 401k is invested in the market, that all time high has likely boosted the value a lot, which increases the annual distribution you can take. I think it’s fair to say that the last few years have been financially good for many seniors.