[Stu from NYC]

Originally Posted by rsmurano

If you have your money in a savings account you have been losing money your whole life. To make money, you have to invest it. No cd/savings account interest rate will make you money compared to investing it in the market, never had, never will. Last year, I averaged over 35% gain in my portfolio, why would I think of putting my money in a cd that gets 2% or less?
But now isn’t the time to jump all into the market either IMO.
IMO, learning finances at an early age in life is critical so you have enough money in your later years to not have to worry about these inflation periods. If you don’t know how to invest, hire a good person to do it for you but you need to learn what they are doing and why so you can do it yourself in the long run.

Very true lots of good books to be had in the library (or should be in the library) to teach the fundamentals of investing. Or spend a few bucks on Amazon to buy a couple of books.
A good personal finance magazine like Kiplingers is also a good idea

[rustyp]

Ultimate results of printing money (inflation) on the holder country of the world's reserve currency does not end well per history. A shortened version of a very educational documentary. Caution not suited for Pollyannas.

https://www.youtube.com/watch?v=Z5OOy82wKCY

[Joanne19335]

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 !

I group my trips as often as possible. I “top off” my gas tank, so it’s always full. Even though I have a economical car, I go where it’s golf cart accessible much more often.

I never ate out much, but now it’s only on special occasions. Prices are soaring and service has declined. I have become a good cook.

I live in a friendly neighborhood and we do things together (golf, lunch, visiting). Expenses are minimal.

I haven’t had a vacation or returned to my native Philadelphia since I moved here four years ago. For the time being, I have no plans to do so.

I cut the cord, switched from Verizon to T-Mobile and am saving $270/month. Due to a golf cart accident last September, I have not played championship golf in over five months I have saved thousands of dollars.

I’ve never lived extravagantly, but I’m am getting used to not having everything I want. Doing okay.

[JMintzer]

Originally Posted by Stu from NYC

If he charges you based on a percentage of assets on a yearly basis he loses if you die a year early.

Hope he realizes that or not much of a planner for his own income.

[JMintzer]

Originally Posted by MartinSE

I agree with you. Things are bad all over the world, but the US is starting to turn the corner.

[Keefelane66]

Talking with my kids yesterday talked about food prices adds WalMart, Publix, Winn Dixie price comparisons apples to apples. Seems we are being taken advantage of here in the bubble from produce to meat products. Suggestion if you don’t like the price move on and wait for a sale don’t impulsive buy! Yes they have seen price increases but not like here.

[OhioBuckeye]

You know we had riots because some ex convict got killed but when it effects everybody we just sit around & talk about it & it keeps getting worse & worse! All I can say is we’ll just have to suck it up until we’ve had enough. Don’t know what else to tell you.

[Mikee1]

Traveling a little less. Jet fuel is way up now, so I just travel less.

[tophcfa]

Originally Posted by rustyp

Ultimate results of printing money (inflation) on the holder country of the world's reserve currency does not end well per history. A shortened version of a very educational documentary. Caution not suited for Pollyannas.

https://www.youtube.com/watch?v=Z5OOy82wKCY

Good to see that someone else actually gets it, the root cause of the inflation we are experiencing is about 13 years of irresponsible monetary and fiscal policy. Rapid expansion of the money supply (printing $$), artificially low interest rates, and unprecedented rapid growth of unsustainable debt are why we are currently experiencing hyper inflation.

I am sick of hearing the excuse that inflation is because of Covid, supply chain shortages, or the Russian invasion of Ukraine. The biggest misleading statement is that current inflation is transitory, unless transitory means several years? All those excuses were merely triggers that set off the inevitable hyper inflation caused be irresponsibility. Because of this incredible irresponsibility, the Federal Reserve doesn’t have the tools at it’s disposal necessary to combat inflation like it did back in the early 1980’s. Not trying to be an alarmist, just a realist. An economy fueled by cheap money and debt is going to eventually crash and burn. Buckle up for a long and bumpy ride.

[rustyp]

Originally Posted by rustyp

Ultimate results of printing money (inflation) on the holder country of the world's reserve currency does not end well per history. A shortened version of a very educational documentary. Caution not suited for Pollyannas.

https://www.youtube.com/watch?v=Z5OOy82wKCY

Originally Posted by tophcfa

Good to see that someone else actually gets it, the root cause of the inflation we are experiencing is about 13 years of irresponsible monetary and fiscal policy. Rapid expansion of the money supply (printing $$), artificially low interest rates, and unprecedented rapid growth of unsustainable debt are why we are currently experiencing hyper inflation.

I am sick of hearing the excuse that inflation is because of Covid, supply chain shortages, or the Russian invasion of Ukraine. The biggest misleading statement is that current inflation is transitory, unless transitory means several years? All those excuses were merely triggers that set off the inevitable hyper inflation caused be irresponsibility. Because of this incredible irresponsibility, the Federal Reserve doesn’t have the tools at it’s disposal necessary to combat inflation like it did back in the early 1980’s. Not trying to be an alarmist, just a realist. An economy fueled by cheap money and debt is going to eventually crash and burn. Buckle up for a long and bumpy ride.

IMHO You are smarter than the average bear. This documentary strikes home (pun intended) to me that rising home values are devastating to our economy. It is going to create huge unrest between haves and have nots and that's not good per this documentary. Interesting solutions at the end of the clip.

[Stu from NYC]

Originally Posted by tophcfa

Good to see that someone else actually gets it, the root cause of the inflation we are experiencing is about 13 years of irresponsible monetary and fiscal policy. Rapid expansion of the money supply (printing $$), artificially low interest rates, and unprecedented rapid growth of unsustainable debt are why we are currently experiencing hyper inflation.

I am sick of hearing the excuse that inflation is because of Covid, supply chain shortages, or the Russian invasion of Ukraine. The biggest misleading statement is that current inflation is transitory, unless transitory means several years? All those excuses were merely triggers that set off the inevitable hyper inflation caused be irresponsibility. Because of this incredible irresponsibility, the Federal Reserve doesn’t have the tools at it’s disposal necessary to combat inflation like it did back in the early 1980’s. Not trying to be an alarmist, just a realist. An economy fueled by cheap money and debt is going to eventually crash and burn. Buckle up for a long and bumpy ride.

You nailed it. Unfortunately nobody who can do something about it seems to care about bringing the budget under control.

[Babubhat]

Cut my dining out and cable. An easy 300 a month. Missing neither. Just added WDW tickets to the cuts. Had enough of their nonsense

[maistocars]

Originally Posted by MartinSE

I agree with you. Things are bad all over the world, but the US is starting to turn the corner.

We also have enough to last us, unless the bottom falls out completely. We would like to leave as much as possible to our kids, so we are usually "frugal" and now is not any different for us. We mostly cook at home, (eat out when we go to Gainesville to the VA Doctor) and that is about all the eating out we do. We typically don't drive much of anywhere, so the gas we drive is for our trips to the doctor - a few times per month.

What corner is that?

[bp243]

Originally Posted by rustyp

How is this a positive ? Unless it was investment property and you are selling and not buying another house (because that one has increased by the same percentage) what your feeling is no more than emotion. In fact that increase will cost you money - example homeowners insurance will go up based upon replacement cost.

Guess that it's a 'state of mind', as you mentioned. It's how I like to think, but understand how you might think differently.

[bp243]

Originally Posted by tophcfa

Don’t you mean on a negative note, your home will be reaccessed and your property taxes will get jacked up.

That's a good point, so planning for that.