Opinion: I retired during the pandemic. Now inflation has me counting pennies

CNN ^ | Tue October 4, 2022 | Linda Stewart

[Lizavetta]

Throw all your loral superiority into a pot, add some water, bring to a boil and you will have a delicious soup.

LOL!

[The Duke]

"You stand head and shoulders above probably 95% of them these days."

Same here. I'm 64 and work in a tech company. During our weekly team meetings when it's comes time for the younger folks to report their accomplishments that week their response is essentially "Same ol' thing". When the spotlight falls on me I run down a list of accomplishment and usually make some suggestions how we may improve our processes.

I also try to throw in a sports metaphor or tell some little story just to add a little flavor to the meeting.

[EBH]

Indeed the shear economic ignorance is astounding!

The Fed is raising rates to suck up the excesses of the past several years! That excess money needs to come out of the system, not dump more into the system.

[Hardastarboard]

Wow - maybe the only person on the thread that understands investing and economics.

[gitmo]

Gee, I wonder if we can figure out some correlation, or causation.

Global warming. And MAGA. And White Supremacy. And January 6.

[LouAvul]

.

[napscoordinator]

I’m so glad that you enjoy your work. They say that is the best thing for health her mind and body. I hope to work for the rest of my life doing something doesn’t have to be intense of anything but something enjoyable. Financially I should be OK, but if the government goes under it won’t matter as you said. I alsoContinue to put money into the stock market. Although it’s a little disconcerting do you see a stock at 7.50 and you bought at 12. Of course now I’m buying it at 7.50.

[2banana]

You really can’t fix this level of stupid.

“I’ve been very pleased with the legislation Congress has passed, such as the Inflation Reduction Act, because I know it will help our economy in the long run, especially lowering the cost of prescription medicine. But so far, I haven’t felt the benefits of it.”

[OrangeHoof]

I have a great plan to get through retirement. It’s called “dying”. That’ll punish those bastards!

But, seriously, I moved to Panama in 2019 and restructured my costs to live well inside my monthly income. Between Soc Sec, two pensions and some minor income, I make between $2200 and $2300 per month and my monthly spending is around $1800 per month. No car (buses and taxis are cheap). Most meds are much cheaper and seniors get a 20% discount.

It’s different living here than in the U.S. - some good, some bad - but I can live in general comfort within my means here and I don’t think I can do that in the U.S. anymore between rent and health care costs.

[BoringGuy]

Quite a concise explanation of why index funds of the major averages work for the average long term investor.

[central_va]

Many on the right want to force a economic collapse with SKY HIGH interest rates to “slow” inflation. Wow, we are screwed from both sides...

[central_va]

It looks like I too will “die in the harness”.

[Magnum44]

This is why you a) diversify b) occasionally balance, and c) let a professional manage your portfolio. Always smart to get good advice. I will plug First Command now. They helped me grow to 7 figures entering retirement through smart investing, dollar cost averaging, and smart tax planning (use those tax free Roth opportunities)

[metmom]

Yup, and they vote, too.

[metmom]

I switched to washing clothes mostly in cold water and only running the dishwasher once a week.

The dishwasher uses far less water than washing by hand.

People are so clueless.

[metmom]

This is why you a) diversify b) occasionally balance, and c) let a professional manage your portfolio.

And make sure you get a good professional.

I've encountered enough incompetent ones over the years who cost us money to be pretty gun shy of them by now.

They NEED to know what they are doing.

[SaveFerris]

Incredible

[Magnum44]

I’ve only invested in an individual stock once, and I got burned the full investment. That was my last ‘day trade’ over twenty years ago. But for 35 years now (wished I’d started even sooner) I have been investing 15 to 20 percent of every paycheck into managed investments. That nest is now 7 figures, even with the down turn. Smart tax strategies (Roth ira’s and 401k’s) and most of my retirement will be tax free. The only taxed retirement will be SS, military retirement, and company pensions.

[SaveFerris]

(”But so far, I haven’t felt the benefits of it.”)

She should keep waiting. Probably massive benefits of it coming in just a few weeks. 🙄🙄🤣

[Magnum44]

I highly recommend First Command. They used to cater only to military professionals, but will now take clients from any walk of life who are committed to long term financial security.