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A comment on Skimpflation: A reason inflation is worse than the government says it is. Parent comment

Re:Skimpflation: A reason inflation is worse than the govern... by listenallyall on Monday November 01, 2021 @05:51AM (#29064697)
For most retirees, inflation doesn't hit nearly as hard. No transportation to work every day, no kids to feed or clothe, home often paid off, generally lower expenses all around. Earning 5-7% off of a savings account, or maybe municipal bonds, was once a huge, reliable supplement to Social Security.

As far as the second part of your comment, you should get your head out of the clouds and look around at working-class America. Perhaps 20% of retirees own a significant amount of stock, or own a house worth enough to cash out of. The US median home price didn't even cross $250k until 2018. https://dqydj.com/historical-home-prices/

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Re:Skimpflation: A reason inflation is worse than the govern... by pessimizer on Monday November 01, 2021 @10:17AM (#29066842)
> As far as the second part of your comment, you should get your head out of the clouds and look around at working-class America. Perhaps 20% of retirees own a significant amount of stock, or own a house worth enough to cash out of. The US median home price didn't even cross $250k until 2018. https://dqydj.com/historical-home-prices/

Those "retirees" also do not have enough money to retire. To retire and live off the interest of a theoretical 5% interest savings account for 30 years requires you to already be wealthy. If you're a working-class baby boomer, you may have gotten that from your house when you sold it and moved into a bad neighborhood or an apartment. But that's just about the only way other than Social Security and old pensions that you're going to keep eating.

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