[Stu from NYC]

Originally Posted by dougawhite

Our financial planner says we have to die one year sooner now to allow for losses due to inflation...

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.

[Michael G.]

Originally Posted by Stu from NYC

That is why I only buy stuff at Publix that we cannot get elsewhere

If I can't buy it at Aldi's, I don't eat.

[tophcfa]

Originally Posted by bp243

On a positive note, have you checked the value of your house? At least in The Villages inflation has proven to work in our favor. Hope that's true for you.

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

[MartinSE]

Originally Posted by zendog3

I know enough basic macro economics to know my limitations and that there is no free lunch. During the pandemic, government saved the economy by giving money, and reducing payments to folks and businesses that would have otherwise gone under. Frankly, they did a great job of saving the nation from the worst, but there had to be a downside and we are looking it in the teeth now. Considering the magnitude of the problem, they are doing a fair job of managing the problem.

Barring total collapse, we have enough saved to survive until our death, so we haven't changed much. We have been relatively frugal and plan to continue as such.

If I were much younger, this would be my strategy: Spend my accumulated savings to buy something at 2022 dollars that will earn a little until the inflation is under control and then sell it at 2030 dollars. A good option now would be to buy a Villages villa now, rent it out, and sell it in 2030.

There is always risk of gain or loss, but the alternative is certain loss.

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.

[jimbomaybe]

Originally Posted by montagnard1969

I detest the term "seniors on a fixed income". Ask anyone who works for a living if they are on a fixed income or not? Do you think the employee can walk into their employers office and demand a raise to keep up with inflation? Don't think so. Do retirees receive cost of living adjustments to their SSA and pensions? Some do without having to go to their providers and request them.
Yes, inflation affects us all but don't think those working for a living have a choice to increase their wages upon demand to keep up with inflation.
It seems like no one wants to back off on their spending. Industry needs to drive the economy, not the consumer. Bring back overseas jobs so the supply chain is not disrupted again. Reinstate construction of pipelines for oil and natural gas transmission. Close the southern boarder and relieve the taxpayer from paying for all the benefits invaders take advantage of by walking across the southern boarders, which many taxpayers cannot afford on their pay. Quit printing money and giving away money and our next generation's future in this process. If you make a commitment to repay a loan, then repay it. Don't expect "forgiveness" and duck you responsibility to pay. If everyone could do this how would the banks survive? Without banking the economy would collapse. The system isn't perfect, but it must operate efficiently to work. What we have in place is not working efficiently and is detrimental to everyone, not just retirees.

Many pension plans and SS have built in increases that however only very rarely keep pace with buying power of the dollar, working people have the option of finding employment elsewhere if their employer cannot or will not compete with other business they lose workers , Inflation is and always has been a function of more money chasing the same amount of goods and services, this is controlled by monetary policy and fiscal policy of our government, the money given out by our government to make for a soft landing and ,they said prevent a recession, was too soft causing a rebound in inflation, we now are seeing an inverted yield curve something that historically prestages a recession

[Two Bills]

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.

Wife and I both came from very poor families, inherited nothing, but worked our socks off to give ourselves a better life.
We look at at inheritance from a different angle, ie. the kids can have anything left over!

[jedalton]

Originally Posted by Babubhat

Qyld. Pays 1 percent a month. Writes covered calls on Microsoft, Apple etc. even if you lost 10 percent on principle you still earned 2 percent for the year

hope you own the stock if you are writing covered calls.

[Luggage]

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 consider myself semi-retired and will continue to take part-time marketing jobs for websites the rest of my life. The only difference is I don't have to get up at 7:00 in the morning to commute an hour and a half to New York anymore

[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.

[Byte1]

Originally Posted by Two Bills

Wife and I both came from very poor families, inherited nothing, but worked our socks off to give ourselves a better life.
We look at at inheritance from a different angle, ie. the kids can have anything left over!

Totally agree. Kids(many) today are living much better than we did. We had it hard, often working three jobs to provide for the bills and food on the table. The kids don't even remember and told us that they had a great childhood. My kids are living better than we are, so why should we cut corners just so we can leave them a decent nest egg? Sorry, but we will continue to save only for emergencies and the ability to eat out once a week. Our grocery bill has doubled, and we purchase a lot of store brand products now. And we do have the option to move to an area where we would not have to pay all the fees we pay to live in the Villages. We are on a fixed income, but we have no intention of sacrificing just to GIVE our kids a gift of our dying. What little we could give them would be gone in a flash anyway. My only concern is leaving enough for my spouse to live comfortably and not have to rely on the "kids." Even though life insurance is not the optimum investment, I have enough to provide my spouse with a respectful sustainability. If not used, THEN the kids get what is left over. We were gifted nothing by our parents, except funeral bills but we managed. We won't be leaving our kids funeral bills.
Inflation is aggravating to us that are on fixed incomes.
Food seems to be doubled
Utilities have gone up
Fuel has doubled
Eating out has gone way up
But, we can hang on again and will enjoy a breather eventually, where we will be able to catch our financial breaths before then next economic fiasco.

[davem4616]

Originally Posted by bp243

On a positive note, have you checked the value of your house? At least in The Villages inflation has proven to work in our favor. Hope that's true for you.

the increased assessed value of our house was the prime reason our home insurance went up a little this year....not the 'roofing scams'

[rsmurano]

Originally Posted by retiredguy123

40 percent of my portfolio is in stocks, 60 percent in bonds and cash. Are you suggesting that retirees should put all of their retirement funds in stocks to keep up with inflation?

I never invest in bonds, so my answer is yes to all stocks/index funds. I have in the past invested in hybrid funds where they are more balanced say 50/50 stocks/bonds. They are laggards and not much safer. How have bonds been doing the last few years?
When I was all in in the market before this year, I was 98% in 1 stock and 6 index funds and last year averaged 35% gains.
When things change later this year and I get back in the market, I will buy exactly what I had before.

[davem4616]

Originally Posted by montagnard1969

I detest the term "seniors on a fixed income". Ask anyone who works for a living if they are on a fixed income or not? Do you think the employee can walk into their employers office and demand a raise to keep up with inflation? Don't think so. Do retirees receive cost of living adjustments to their SSA and pensions? Some do without having to go to their providers and request them.
Yes, inflation affects us all but don't think those working for a living have a choice to increase their wages upon demand to keep up with inflation.
It seems like no one wants to back off on their spending. Industry needs to drive the economy, not the consumer. Bring back overseas jobs so the supply chain is not disrupted again. Reinstate construction of pipelines for oil and natural gas transmission. Close the southern boarder and relieve the taxpayer from paying for all the benefits invaders take advantage of by walking across the southern boarders, which many taxpayers cannot afford on their pay. Quit printing money and giving away money and our next generation's future in this process. If you make a commitment to repay a loan, then repay it. Don't expect "forgiveness" and duck you responsibility to pay. If everyone could do this how would the banks survive? Without banking the economy would collapse. The system isn't perfect, but it must operate efficiently to work. What we have in place is not working efficiently and is detrimental to everyone, not just retirees.

Sounds like you and I were brought up with similar values

[Eg_cruz]

Have slow the traveling.
I had to order cat litter refill trays…..they are up 60%……60% in the last 18 months
This is getting out of control

[Two Bills]

Originally Posted by Eg_cruz

Have slow the traveling.
I had to order cat litter refill trays…..they are up 60%……60% in the last 18 months
This is getting out of control

Swap the cat litter for sandy dirt.
Plenty of that free in Florida.