Is the state of the current economy where you live effecting your retirement? In what way?

The COL has skyrocketed where I live mainly because of people from California selling their homes for a lot of money and thinking ours are cheap. Now houses cost more than in Sacramento.

Everything has gone up a lot. I used to eat out once or twice a week and now it’s that in a month. It used to cost me 200/month for groceries and now it’s 300. I have cut out most discretionary spending and eliminated or found a cheaper alternative for many things. Our hoa dues went up 50/month. I own my condo but have a small mortgage.

I took a trip to Europe last year and this year and then one more next year and then travel will be done mainly because of the cost. I am also finding it harder to recover from the jet lag. I used to spread my travel out to once every 5-8 years but because of my age wanted to do it while I can.

My vet wants 1k for a yearly dental for a small dog and 2k for the other little one because she has a heart problem and they want to do a expensive heart test first although she had it last year.
 

The effect of price increase on everything hasn't really impacted us as much as it would have if we were younger & still raising a family.

A lifetime of finding ways to get the most value for the money we have has not changed. The difference is now at the far end of our lives the money saved is spent for fun. Planning has made it possible so that even with spending for fun there is more money coming in than going out. Gambling specifically video poker is what we enjoy most.

Even with some fantastic wins over the years zero doubt that loss outweighs gains. It's about sharing time together enjoying a day or two out each week.
 
mrstime said:
Groceries went up almost immediately when the pandemic started, everything else followed. I can't save as much now as I did before.
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I think that is everywhere @mrstime …..where I moved from, the prices went up sky high,
very expensive also, where I live now, but doesn’t really affect us much, as we never go anywhere, !
 

Youngster said:
For me, because of the price of gas and airline tickets, travel has taken the biggest hit. I'm spending more on food as well but I won't compromise on the quality. I still buy organic whole food and try to stay away from the processed stuff.
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Food is essential, holidays are a luxury, in my budget anyway.
 
We did our weekly shopping yesterday. On my list was some more Old Spice deodorant, which I've used for years. Usually I pay just a bit over $2 for a stick. Yesterday, the price was almost $6. Needless to say, I bought a different brand, With this economy, I can understand a 10% increase in price, but almost 300% is ridiculous....they lost this customer.
 
Don M. said:
We did our weekly shopping yesterday. On my list was some more Old Spice deodorant, which I've used for years. Usually I pay just a bit over $2 for a stick. Yesterday, the price was almost $6. Needless to say, I bought a different brand, With this economy, I can understand a 10% increase in price, but almost 300% is ridiculous....they lost this customer.
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The price may drop back down to earth - either there or at another store.
 
The cost of electricity has doubled here and other utility bills have risen considerably. The increases in our occupational and state pensions just about cover these rises. Entertainment, travel and other holiday costs have risen considerably, but this is offset to a degree by the better interest rates from savings.
Net result, we're a bit worse off and certainly can't save as much as before.
 
HoneyNut said:
I'm not as affected by price increases as I was last year, because now that I've got a home (instead of full-time traveling), I don't have hotel bills, or crazy insanely increasing pet fees (one of biggest motivations to buy a condo was to not have to pay pet fees), and I've been able to set up subscribe&save on Amazon for my favorite items.

This thread motivated me to check the costs for going to Africa (I'm still struggling to decide whether to go), and although the tour price has gone up significantly (approx +20% from pre-covid price), the airline ticket is just a few hundred more (if I'm remembering the old price and reading the new prices correctly), and the travel health insurance is more but I'm older so not sure whether the increase is due to inflation or my age. But not bad, looks like good medical coverage for a two week trip for $136
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Hello there HoneyNut: When my wife was still alive, we spent 5 months backpacking east, south and southwest Africa. It really was the "trip of a lifetime." Watch your prices and don't get ripped off. We traveled by ourselves but we did a couple of safaris. You know when you see a giraffe or an elephant, they all look the same; whether Kenya, Tanzania or South Africa. We saw a lot: Lake Victoria, Mombasa, Lamu, Victoria Falls, Cape Town and so many other places. Go for it; you wouldn't be sorry.
 
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