I’m beginning to sound like every retirees’ nightmare who live on a fixed income. There’s only so much money coming in and I have to deal with all these constant rising costs. Unless you are going through this revelation yourself, you really don’t understand nor comprehend what I am writing about. I heard a financial expert the other day state that the rich aren’t feeling any of this inflation pang. Why? They have the money to keep paying the increases. The only thing that changes for them is that they have less money to put away into their savings accounts. When you’re retired and on a fixed income (or a low income) and combating inflation, you don’t really have the opportunity to either put money away in to a savings account nor withdraw much from a savings account either.
My dog likes to have chopped turkey along with her daily dose of kibble. At the new, inflationary $5.29 price per pound, it’s not going to be doable any longer. I’ve switched my doggie to a cheaper mix of chopped turkey at $1.89 pound. Even my little pooch has to submit to the inflation sacrifices we all are making.
As I’ve mentioned before in a previous post, for some reason, all my extra expenses appear to be colliding this month of November. I had some serious eye pain and had to go to an ophthalmologist for an eye exam. Thankfully the exam was covered under my Medicare insurance. The eyewear however, is not. Luckily my two frames are still new because I’ve hardly worn them these past 2-3 years. (I used one of the frames in my blog cover photo) I paid $95 for both of them at an optical store in Florida. The optician who is filling out my RX said they’re practically brand new. The costs, however, for the lenses is a shocker. The main pair I use for daily use is a bifocal with a blue protective coating to protect my eyes from computer and iPhone glare. Those lenses, at a senior discount will set me back $200. The lenses for my bifocal sunglasses came to $110. Ouch. Throw in hubby’s new RX at $150 (he has his own frame) and we now owe our local optical store the sum total of $460. This is insane.
What’s a retiree on a fixed income to do? Medicare supplemental insurance doesn’t properly cover medical eye expenses. You still wind up paying some of the medical costs as well as the expensive insurance costs. In the past hubby and I had both our exams and RXs filled at a Walmart. I heard that Costco is very good. But this time around both DH and myself are having eye trouble and we thought it was best to go to a more professional office and get better quality eye care. (yes, Walmart and Costco sell inferior, cheaper products which can cause severe eye injury which is what I think happened to me, thus my eye pain)
Our doggie’s annual vet visit is this month. That should set us back another $150 to $180. Lastly, we want to top off our propane tank now before the cold weather sets in and the prices accelerate. We estimated we need 150 gallons @ $2.89 a gallon equals a cost of $433.50. It’s been two weeks already waiting for the fill up. I’m certain the price has gone up again as we wait for our delivery.
Thank the Lord our daughter is hosting Thanksgiving dinner this year. I don’t even want to think of that cost as everyone is stating this year’s holiday meal is going to be the most expensive one in American history!
As retirees on a fixed income, once we pay ALL of our monthly bills, we have $1400 left over to cover food, gas for the car and other day-to-day necessities. We put money away for our pet’s vet bill but we weren’t prepared for the higher-than-usual medical costs. Faced with approximate unusual expenses, as listed above, at $1075, we are going to do what every retiree is most fearful of: we are going to forgo normal monthly grocery shopping in order to pay our upcoming additional expenses. We can only do this because we already have a stockpile of food. All we need would be fresh produce, fresh fruit, dairy and bread to supplement our stockpile and we should be good to go. As I’ve always stated, we’re still too early in our retirement years to tap in to our savings at this time. Also, DH starts his new, seasonal job next week and we have no idea when he’ll get paid. We’re hoping to save most, if not all of his 8 weeks of seasonal work income.
What’s the message in all of this? In my estimation, I think we’re going to have three more years of run-a-way inflation. We’re going to have to come up with constant innovative ways to combat this man-made disaster. The best thing IMHO for you and I to do is to take care of our health first. Don’t skimp on medical care for yourself (or your beloved pet). If you do, it’ll cost you in the long run. Take your meds, take your vitamins and get out and exercise almost every single day. Take a walk. It’s free. Stay close to your family and friends. It’s perfectly alright to kvetch about inflation to your fellow retirees. They understand. Somehow we feel better after we complain. At least I do. As long as I know I’m doing the best I can, making decisions that will work out for us in the long run, I’m hopeful for the future. This isn’t my first rodeo with super high inflation but it most certainly will be my last.
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Ciphers From Cindi 
Hi Cindi, I hope Nick’s first day went well. With that new job and a paycheck coming soon- why worry and stress over your extra bills just replace what you need to take out of your savings. You put such pressure on yourself with self imposed restrictions. I feel flexibility in my finances is helping me to get through rising costs without stressing. I believe God won’t give you anything You can’t handle. Sincerely, Lara
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Lara, I feel the complete opposite. I’m saddened by the fact that my husband had to go back to work. He has a very bad heart and doesn’t need this stress. The work should be easy but who knows? He can not lift anything heavier than 50 pounds and thankfully the new position limits their packages to 45 pounds. We’re planning on saving every single penny he earns because the way things look today, I realize relying on social security, a pension and dividend/interest payments is stupid. If we can’t make it now on that, what will happen when we are 80 or 90? Our goal is to save as much as possible to prepare for that inevitability.
We should have been making our way towards Florida by now. Not making our way towards filling up some hopper with wood pellets for fear of being frozen this winter instead. See what I mean? To all my fellow retirees out there: was this the way you envisioned your Golden Years?
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So far, our retirement has been just about what we envisioned. We paid our house off prior to retirement, sold it and paid cash for another one six months after we retired to be nearer our children and grandchildren. It’s about 2700 sq. ft., all on one floor, so hopefully we’ll be able to stay here for many years. We are planning a remodel on our master bathroom soon to make it a little more senior friendly.
Our income consists of my small teacher pension, our social security checks and a monthly withdrawal from our investments. When my husband retired he opted for a lump sum rather than a pension. I would have preferred the guaranteed income from the pension, but it wasn’t my decision to make. We took the lump sum and combined it with our 401K savings into a rollover IRA. We withdraw about 3.5 % a month and after almost 8 years, we still have more than we started with in the IRA.
If the market makes a big correction we will stop our withdrawals and live on the SS and pension. It will be tight, but we can do it if we live very carefully.
We take one big vacation a year and spend a lot of time at our tiny house at the lake. We’re very involved in our church and spend a lot of time with our children and grandchildren.
We both have hobbies that we enjoy and I think contentment is probably the biggest factor in a happy retirement. At 70 years old, I don’t want a lot of drama in my life so I focus on the small things that make me happy…successes in my children’s lives, fun times with my grandkids and time alone with my husband.
Do I live an enchanted life? No. My brother died unexpectedly in May, my little granddaughter had covid in July and spent 42 days in the hospital, part of the time on a ventilator. My husband’s father had Altzheimers and I constantly watch my husband for signs of it. I’m not happy with the present political environment, inflation and most of everything else I see on the news.
But, I put it all in God’s hands and give thanks for all the blessings I have. I think that’s the key to a happy retirement.
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Glenda, you hit the nail right on its head. Putting it all in God’s hands. I think sometimes I forget to do that and that’s why I think I worry too much. I’m sorry to hear about your brother. My brother died also, in April, from Covid. We’re in the middle of preparing his memorial and I think all that remembrance rushes forward and I find myself in a funk. I haven’t met one person yet who is happy with ur current political environment. What’s bothersome the most is that they just don’t care what suffering they bring upon the people. They are just hellbent on getting their way done they have lost sight of the carnage alone their way. For that, they will suffer accordingly.
Thank you for a wonderful synopsis of your retirement. My goal was to always winter in Florida and for years I was doing just fine. These last two years I haven’t and I am bitter about it. The high gas prices were the last straw. Like you I am 70, soon to be 71 and time, for me, just keep eeking away. Not liking it at all!
Thank you again for your comment.
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Hi Cindi, after I read this blog I ask Siri a number of questions. With our appreciated paid off homes, cars, truck, RV, investments, and savings are net worth is over a million and puts us in the top 1%. Are we not part of the wealthier Americans and the rising cost on everything is making us do hard choices and eliminate some of our wants. Yes I am upset that inflation is so high but we have those stimulus checks in part to blame. Most people have taken their temporary increase savings and spent them( bigger Truck for you) before we had this massive inflation. Because of the stimulus checks the Demand for goods has outpace supply. Reality we are going to have to pay higher taxes to pay it back, plus our free vaccinations, increase medical costs, and the infrastructure bill and other pending bill. I think your right at least three more years of over 5% inflation. We are going to have to finagle what we are spending to match our monthly fixed income streams. We are going to have to pick and choose our discretionary spending. We are going to have to increase our passive income streams or employment to maintain our preferred lifestyle. It sucks.Sincerely, Lara
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Lara, it all boils down to just ONE thing. On the day after Biden was elected, without warning, he closed down the XL pipeline. Over 4,000 people lost their jobs and when the Saudi’s etc realized that gas was going to go up in price, plus be difficult eventually to get, they ROSE THEIR BARREL AND GAS PRICES IMMEDIATELY. What happened after that was a snowball domino effect because EVERYTHiNG IN THIS WORLD IS BASED ON PETROLEUM. EVERYTHING. So, when gas prices started to rise so did everything else. Until BINGO inflation, food and material shortages, microchip shortages etc. reared its ugly head. Until the Fed’s raise the interest rates and face the damage they have done, every single one of us are doomed to suffer the consequences. It wouldn’t surprise me, as Biden is considering closing yet another oil pipeline and put the final nail in our coffin so that we go for electric cars etc. But don’t they realize electricity comes from coal, which America is shuting down while China has just built 265 coal mines (that we know of.)
The world has gone mad with no end in sight. How does anyone exist with any semblance of order, in this mayhem? And now, at prime holiday shopping time, despite the supply chain mess, malls are now under attacked with increased shootings. Here in NY I just found out they’re closing 6 jails. WTF? Neighborhoods will now lose vital income plus less criminals are being arrested and sent to jail. They’re out (oftentimes without bail) on the streets again, thus raising crime……it’s insane.
Yes, I used part of my stimulus money to buy a truck. Now, because of the high gas prices, I can not use said truck nor tow said RV. So, it sits idle. An EV pick up truck does not have the power to tow medium heavy equipment )RVs).
What a waste of Human Resources.
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PS- all my stimulus checks went right back to the government and paid estimated tax payments .
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Hi Cindi, Blaming only one thing the closing of the XL pipeline is an over simplistic explanation for the cause of what is happening now. The oil sands it was going to carry creates the most greenhouse gas emissions in refining. Putin turning off Russia natural gas pipelines has caused more damage and the lack of wind due to climate change.. The shipping congestion and semi conductor shortages impacts more consumer spending. The oil refineries destroyed in the hurricanes disrupted the supply change. Covid19 impacted us in so many more ways-. Death, lingering health problems, isolation and our children and grandchildren education and mental health, quarantine, fears, unemployment, hoarding of food and basic staples. Feds monetary policies, I remember in 2009 paying $4.69 a gallon for gas $1.20 more per gallon then now and RV sales plummeted and values ranked. Prius sales soared. It’s a continuous viscous cycle. Sincerely Lara
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Lara, the closing of the pipeline, with no alternate method of supply in place, started the ball rolling. We had covid before the closing and we didn’t have inflation nor such a supply chain bottle neck. We need truckers. Not belittling Walmart & Amazon as Biden is doing. Those much needed truckers are sitting idle inside The National Guard. All those soldiers know how to drive a truck. Biden’s adamant refusal to use the National Guard is a tell tale sign that this current administration does NOT care about the suffering of its people. They are more concerned with passing their preposterous and damaging agendas. If no one is willing to work now, what makes Biden think that anyone is going to work with his infantile infrastructure spending bill they just passed? Who is going to rebuild the bridges, roads etc? Know who? The millions of illegals he allowed to come in to this country. Whatever Biden is passing is not helping you, me or any other American citizen. Biden is fooling no one. With a 38% downward approval rating and a 100% declaration from the American people NOT to seek a second term, Biden is fooling no one but himself. The man is an out and out liar. We all got screwed and we know it!
This just in from The Post: “America is producing 2 million fewer barrels of oil today than when Donald Trump was president. So at $83 a barrel, this means we are losing about $165 million a day in national output and $50 billion a year. This has only given leverage to OPEC and the Saudi oil sheiks to raise prices — and there’s nothing we can do about it”.
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RV values Tanked not ranked, Lara
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Vicious not viscous- don’t you just love your type words being changed!
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