Thump's Place FL

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 The Dollar in Retirement

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Posts : 2725
Join date : 2008-05-13
Location : Central Florida

PostSubject: The Dollar in Retirement   Sat Mar 08, 2014 3:03 pm

I read the other day that the dollar decreased in value by a factor
of 7 since 1965.  Some things went up more, some less.
Gasoline and cigarettes are much higher than that.
In 1965 gas was about thirty cents so multiplying by 7 would
be about $2.10.  Cigarettes were 50 cents in a vending machine
although they sold a lot cheaper not in a machine and especially
if you bought a carton.  That would be about $3.50 and you
can't get generic cigarettes for that.

It's been 49 years since 1965.  I don't expect to live another 49
years but it seems like that prices double about every 7 years
(49 / 7).

So, it looks like I'll need twice as much in 7 years, three times
as much in 14 years, etc. of the money I need now.  Fortuneatly
I don't really need all I get now but Honey seems to need it all.
She's trying to build out savings back up right now, we'll just
have to see how long that takes.

Of course there's a COLA (cost of living adjustment) for Social
Security but it never seems to keep up.  We just need to double
our IRA and personal investments every 7 years.
Well, we're already in our retirement, we'll just have to see
how it works out.  Inflation is still less than it used to be at this
time, it won't last though.
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