Sunrises, Sunsets, and Rainbows

How much does it cost to get by in retirement?   ...Pretty much the same as before retirement...  HOW DO YOU COMPARE? The average retiree spends $4,818 on monthly expenses; 75% on 4 items.  How do you compare? 1. Housing ($1,734) 2. Transportation ($681) 3. Health Care ($628) 4. Food ($608) I nflation: a concern for retirees In 2020, inflation was 1.2%. In 2021, overall inflation surged to 4.7%, reaching a peak of 9.1% in June 2022. (Source: Investopedia).  To compensate, consumers "look for bargains" and reduce "discretionary spending".  "After spending more than two decades below 3%, the  consumer price index  (CPI)—a key measure of U.S. inflation—nearly tripled from 2020 to 2021, rising from 1.4% to 7.0%. Inflation fell a bit, to 6.5%, in 2022.   Inflation occurs when changes throughout the economy drive prices broadly higher, reducing consumer purchasing power. This means that each dollar you earn buys fewer goods and services. ...

Everyone is feeling the increased cost of inflation ...especially, retirees living on fixed income...  A visit to the grocery store, gas pump, Home Depot is quickly felt in the wallet. Food prices on many items have doubled (x2!).  Gasoline is hovering around $3.87 per gallon, up $0.31 from last month.  In some areas, cost of gasoline is $4.34 per gallon or more!!   Paint and many home improvement materials have literally doubled in price - for example paint that sold for $32.00 per gallon is selling for $56.00 and higher.  Some stains approach $70.00 per gallon.   The cost of labor has also increased. An oil change, using synthetic oil, is $45-$70, or more!!    I requested a bid to re-paint the roof trim.  The quote from a painter, who advertized that his prices were low, was $1900.00.  When asked how long the job would take, his response was 4 hours!!  Doing the math - that's ~ $450 per hour - for painting trim??!! ...