Retiree behaviors in the time of inflation (girls, mother, tax)
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Location: Was Midvalley Oregon; Now Eastside Seattle area
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Quote:
Originally Posted by leastprime
FredMeyer (Kroger) $11.99/#; ~$19.78/pkg. Dec 18, 2021.
DW comments on that too. Boneless meat is cheaper . We shop frequently at an asian food store-big inventory turns. May have to check out the latino butcher & grocer, who is closer to us anyway.
There’s an outlet in a shopping center by my house. I don’t remember it being anywhere nearly this high, but that $90 flannel, 30% off, is $63. Still nuts.
they are half price online - 90 dollar flannel shirts are 40 - 45
oxtails never go on sale,the cheapest I have seen is $8.99 at HEB if it is a big package.
Wmt may be $8.99 too,check it out
THere is only one tail per cow,and it is tasty,soup or braised
Oxtails are classified as Offal. They were originally slave food throughout the Caribbean, along with the liver, kidneys and tripe, parts of the cow that the owners did not want to eat. Now, they are eaten all over the world, even in some high end restaurants. In the Caribbean, they are cooked with a lot of seasonings and using a somewhat elaborate process. I was just amazed to see the sudden jump in price and expect it to go higher if cattle rearing becomes controlled as part of a "climate change" prevention strategy.
Well, the turmeric milk, mushroom hot cocoa, and dandelion soda didn't help. The sandwiches were good, but not exceptional.
It was part of a day, hiking in the snow, etc. I admit a bit of sticker shock. It made for a nice day though.
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So you are saying SS with COLA, investment drawdowns and pensions without a COLA are combined fixed income?
That's a typical income makeup of a retiree.
Why are people getting hung up over "fixed income?" When I've heard this time used, it is generally applied to a lower income retiree.
Technically, I agree you with that most folks are "fixed income." I'm salaried. A paycheck, usually within a penny, is deposited into my checking account every two weeks.
I have some small investment income sources, which can vary, but that's certainly not enough to support myself on. I have to work within the limits of my main income.
Quote:
Originally Posted by foodyum
I agree with this.
Being poor always sucks but there are more options for seniors.
Social programs available to poor seniors including some decent housing choices, senior centers with meal programs, free fun and stimulating activities, free transportation, dedicated social service workers to help access benefits, visiting services including food delivery and medical in home services, transportation services for errands. In some places, even substantially reduced property taxes.
Let’s not even get in to the benefits of Medicare over Medicaid for younger poor.
Not implying that this is not deserved or that poor seniors are not vulnerable, but the safety nets are stronger than for any other age groups. There is just more free stuff at that age.
I have a 27 year old disabled ex on SSI. She gets a little under $900/month. Thankfully, she lives with her parents and has no real bills other than her car payment/phone, but it's tight for her. It took somewhere between three and four years between when she applied for disability and when she actually got it, with several denials. She did get back pay.
I'm not going to go too deeply in the politics of it all, but we incentivize a lot of the "wrong" behaviors in society. A low income couple that has a kid is generally better off to remain unmarried and the woman to get government aid. As a 35 year old, never married, no kids, legally single, upper middle class (by area standards, anyway) white male, I'll never have a political advocate should I "hit the skids" financially.
The times changed after baby boomers. College suddenly became something that everyone should attain, even if their parents never achieved it. Even if their parents never saved for it. Even if they didn't have the aptitude, or intellect for it. When we boomers applied for educational loans, we were asked if we had the income to make the payments (or at least I was). No income, no loan. Now there are no payments until after graduation, and many types of deferrals to allow LOTS of interest to pile up on the loan. And college tuitions have skyrocketed. Since many college graduates take majors with no hope for an actual job in that field (how many marine biologists can the market support?), they are stuck in low wage jobs paying for a degree they can't use. Or the alternative, they got an in demand degree, but at professions with historically low pay, so little left over to pay the loan payments after paying the household bills. (Unfortunately this is due to lack of research on the earning expectations of certain majors.) It's almost like an evil trick was played on these kids. No one told them that there were ways to make money that didn't involve 4 years of college, or loans. And vocational classes in HS were eliminated due to budget cuts, so they never learned that they might be good at, and enjoy, a skilled trade. Now the trades are starved for apprentices, and a plumber or welder makes more than a manager in many companies.
To be frank, who would expect a college student to have the current income sufficient to cover the cost of an expensive student loan?
I worked at Walmart, Food City, did some PC repair/building, and some construction type work during college. It was low income work. I might have made $13,000 on my best years. My primary focus was school. No one would have loaned me money based on my then current income.
With regard to inflation, the best you can hope for with a student loan is a fixed rate, and that your wages scale up quickly enough to pay the loan back.
Quote:
Originally Posted by TuborgP
It is such a misused term just like the driven concept that retirees are poor, living on the edge and life for most is a struggle. That is why the younger generation can so often be negative towards us. They are our children and grand children and know that many of us are anything but limited/moderate in income. They know that seniors are one of the wealthiest segments of American society.
Multiple current threads in the forum have posts suggesting seniors are different in financial behavior than other groups of Americans. Low income is low income and low income seniors usually have more assistance available especially health care.
Affluence is affluence and your million has as much buying power as a 30 year old millions for the most part. Yours probably has more because you can still get a senior discount even if not needed. Think about that!
This board skews extremely affluent. I wouldn't use most of the people on this board as any sort of proxy for a typical senior in American society.
One person who posts frequently, but in spurts, was particularly interesting to me. Based on the person's user names, where they went to grad school/worked (they've freely shared this information on public posts many times), and a good bit of Googling/research, I figured out who the person was. Sure enough, the name I found ties back to the same user name they use on C-D (and other places), as well as where the C-D poster has said they live. This person has at least $10,000,000 invested between properties. If they have $10,000,000 in property, they are probably worth at least a few tens of millions more.
I know some people who are doing pretty well. I don't personally know (at least that I know of) anyone on a first name basis with that level of affluence.
I know that's not common, but even a typical "moved from the coasts to the heartland" person with a pension, could easily have hundreds of thousands in home equity contributing to their net worth, have a net worth of a couple million dollars, and have a lucrative (at least by the local) standards. There's probably a couple dozen people reading this post in the latter scenario.
Last edited by Serious Conversation; 12-19-2021 at 07:39 PM..
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. We shop frequently at an asian food store-big inventory turns. May have to check out the latino butcher & grocer, who is closer to us anyway.
