Do you go grocery shopping? Do you pay bills? You aren't without the ability to have an idea what prices are doing.See thats the problem, you have no objective alternative to what you baselessly claim are bad numbers
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Do you go grocery shopping? Do you pay bills? You aren't without the ability to have an idea what prices are doing.See thats the problem, you have no objective alternative to what you baselessly claim are bad numbers
But food costs as a percentage of income has increased, negating the wage growth. How many times will people experiencing this type of financial hardship have to tell you in this thread alone?
Can't argue with that.seems the amount spent on food has been growing at a steady rate for 50 plus years
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I keep 5 years of spend in cash to ride out market collapses so I don't have to sell equities in a downturn. I'm getting ready to move another 2 years into cash before October.
Thats not how it works.Why? Both parties have done it.
I retired at the end of 2020 from 38 years in oil and gas. Fidelity recommended I put 10 years in cash and the rest in equities and bonds. Their thinking is that there has never been a 10 year period where the market has lost money. So if the market shits itself, having a cash reserve that makes a decent return keeps me from having to sell equities in a downturn. It's a good strategy.I am 5 years from retiring and could go a few years if needed without touching the IRA/401ks so the money I have in money markets is basically just my rainy day fund
Pretty much. And though technically low income, we are far better off than families trying to meet the needs of their kids, feed them a healthy diet, and pay their bills when their income has nowhere nearly increased as much as inflation.Are you retired and living on a fixed income?
It is how it works. Social security payments are indexed on inflation. The higher the number they report for inflation, the more money they have to pay out in social security payments.Thats not how it works. Both parties are full of opportunists looking to pounce on the other side.
I retired at the end of 2020 from 38 years in oil and gas. Fidelity recommended I put 10 years in cash and the rest in equities and bonds. Their thinking is that there has never been a 10 year period where the market has lost money. So if the market shits itself, having a cash reserve that makes a decent return keeps me from having to sell equities in a downturn. It's a good strategy.
At the time I thought a 10 year reserve was too much. I was greedy. I wanted to make a better return. So I kept 5 years in cash. Which was fine because in 2023 I took a consulting gig, so I wasn't too worried about only having 5 years of reserve. That gig is ending this year and I'm thinking of upping it to 7.
NooooooooooooooooooooooPeople arereducing their purchases of steak or the amount of it. In fact, there was a report on TV that many have replaced steak with sausage. Thank You old Joe. Thank You for the inflation and unifying our nation.
It is how it works. Social security payments are indexed on inflation. The higher the number they report for inflation, the more money they have to pay out in social security payments.
It is. It's a lot easier though if it actually earns a decent return. 5% is amazing. I would hate to see that drop.It does make sense to have some, but 10 years does seem like a lot.
Do you have any other income sources, pension or such?
Yeah, you guys always wilt like lettuce in the Sun.Disengage, I know I'm better off doing so
It is. It's a lot easier though if it actually earns a decent return. 5% is amazing. I would hate to see that drop.
Do you go grocery shopping? Do you pay bills? You aren't without the ability to have an idea what prices are doing.
Sorry, but they take out social security out of a paycheck and then give it back to you when you retire. Or that's at least how it's supposed to work.THEY don't pay out anything silly.
It comes out of Federal budget, not their personal finances for them to want to conceal something in some crazy, broad conspiracy.
You do realize that they have to finance that budget, right? Do you have any idea of the shit storm that is headed this way. The percentage of tax revenue needed to service the debt is increasing. Do you have any idea what will happen if the US defaults on T bills?THEY don't pay out anything silly. It comes out of Federal budget, not their personal finances.
Then don't worry. I'm sure you won't have any problems.Yes, I don't see any obvious difference compared to last year.
Dummy, state of national economy is not about you or me on individual level.Then don't worry. I'm sure you won't have any problems.
You do realize that they have to finance that budget, right? Do you have any idea of the shit storm that is headed this way. The percentage of tax revenue needed to service the debt is increasing. Do you have any idea what will happen if the US defaults on T bills?