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Old 11-14-2007, 07:54 PM   #21
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Thanks to everyone who shared their experiences!
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Old 11-14-2007, 10:06 PM   #22
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Originally Posted by cute fuzzy bunny View Post

Joe Dominguez' story woke me up pretty good. Take too little risk and pretend inflation isnt that bad, and you'll spiral into living in a group home and washing plastic wrap off. Not because you think thats frugal but because you have absolutely no choice.
What happened to Joe Dominquez? I mean, besides death? Did he run out of money?
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Old 11-14-2007, 10:10 PM   #23
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Originally Posted by Helena View Post
BCBS of Texas and BCBS of NM are part of the same parent company
as is BCBS of Oklahoma and BCBS of Illinois... they are all part of HCSC
headquartered in Chicago. HCSC is looking to take in other non-investor
owned BCBS plans.
True, but their rates vary from state to state and even from location to location within the state (TX is really big). Early in retirement, I called BCBS to check out insurance. The representative said they would decline if I applied...preexisting conditions (no heart problems or cancer). Bought HI from another company and they excluded everything wrong with me, then some!

When I applied for BCBS in NM, I disclosed same preexisting stuff. They insured me without any exclusions. I suspect I could keep BCBS if I moved back to TX but suspect that my rates would go up.
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Old 11-15-2007, 08:16 PM   #24
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What happened to Joe Dominquez? I mean, besides death? Did he run out of money?
Joe Dominguez died of cancer in 1997 (he was born in 1938 ). He FIREd in 1969 at the age of 31. The 1992 version of YMOYL (the 1999 version only changes the resource list and index) doesn't mention any reduction in Joe's standard of living, and talks about "dispelling the irrational fear of inflation" (page 297, italics in original).
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Old 11-16-2007, 11:31 PM   #25
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I believe the communal housing arrangement Joe D (and Vicki R, who I think still lives in the same house) made was something they did early on and it was a choice related to their core values -- not necessarily a choice made out of economic necessity. At any point in time they could have made TONS of money off of YMOYL (I still remember when they were on Oprah...), but they didn't sell out and all the money they did make went back into the New Road Map Foundation.

That being said, I think maybe the ability to not worry about inflation is past us now -- I have a feeling that there is no way that the costs of basic goods and services can stay as low as they have been. I remember cleaning out a trunk from my grandma's house a few years ago and finding a grocery store circular from safeway from the early '70s -- astounding to see that at the time I could get better prices on many things in 2002 than I could in 1972! But I think that is an aberration and since then we have indeed seen the cost of basic foods go way up. As the pendulum swings (oil prices up, water prices up, labor costs up) consumers will be having to bear a higher percentage of the cost of production. I think it is prudent to plan for at least a reasonable level of inflation.

lhamo
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Old 11-16-2007, 11:57 PM   #26
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If I heard the story on NPR today correctly, they said that the traditional Thanksgiving dinner was 11% higher than last year.
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Old 11-17-2007, 08:53 AM   #27
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Originally Posted by lhamo View Post
But I think that is an aberration and since then we have indeed seen the cost of basic foods go way up. As the pendulum swings (oil prices up, water prices up, labor costs up) consumers will be having to bear a higher percentage of the cost of production. I think it is prudent to plan for at least a reasonable level of inflation.

lhamo
Plus the Walmart effect is a one-time reduction that is now in our past. Are there any other breakthroughs on the horizon/ I see that TVs have increased significantly in price points in the last 5 years (OTOH used CRT TVs are available for a song on craigslist).
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