hesperus
Full time employment: Posting here.
Will celebrate again when we hit eight figures. We get enticingly close when markets hit these highs, but that won't last
Will celebrate again when we hit eight figures. We get enticingly close when markets hit these highs, but that won't last
Will celebrate again when we hit eight figures. We get enticingly close when markets hit these highs, but that won't last
Will celebrate again when we hit eight figures. We get enticingly close when markets hit these highs, but that won't last
I'm 50 and the savings calculator shows I will hit this, if I only work until 70. LOL! No dice.
Yeah, if you are spending more and more money each year. Strangely, that is not happening to me. I don't know why.I remember when my earning assets hit a million. Late 40's as I recall. Each year inflation makes this number less significant I think.
We felt "meh" about it too. As a member of this forum, by the time you reach that 1st million you have a really clear understanding that it is not enough* to sustain a lasting freedom from work. Sad but true![/SIZE]
Will celebrate again when we hit eight figures. We get enticingly close when markets hit these highs, but that won't last
Yeah, if you are spending more and more money each year. Strangely, that is not happening to me. I don't know why.
The classic "Your Money or Your Life" book goes into why individuals' inflation rates can be so much lower than the national rate. Basically, it's substitution effects that people can make (hotdogs on sale versus hamburgers) that the national formulas don't, because they are intended to calculate only rising or falling (hamburger) prices. Individuals can make such decisions about nearly every line item, though healthcare is probably the most scary rising one. I'm glad to hear the lower rate is true for you in real life as it's kind of a "big deal."
The classic "Your Money or Your Life" book goes into why individuals' inflation rates can be so much lower than the national rate. Basically, it's substitution effects that people can make (hotdogs on sale versus hamburgers) that the national formulas don't, because they are intended to calculate only rising or falling (hamburger) prices. Individuals can make such decisions about nearly every line item, though healthcare is probably the most scary rising one. I'm glad to hear the lower rate is true for you in real life as it's kind of a "big deal."
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One thing that has amazed me is that the same chain will price such items differently by neighborhood. Ground chuck will be relatively more expensive in poorer neighborhoods. In those stores, you should buy the good steaks.the price gap between Ground Sirloin, Ground Round and Ground Chuck (the cheapest) has widened considerably, and not just on a percentage basis, and Ground Chuck at least at my supermarket is of good quality.
Substitution effect might be part of it, but I bet the major driver of individual inflation rates going slower than national inflation rates are fixed long-term costs, and specifically fixed mortgage payments.
Over the course of a 30-year mortgage, housing prices will rise significantly, but the fixed payments on the 30-year mortgage will remain constant. (Of course, taxes and insurance will rise, but the overall housing costs will still rise much slower than inflation because of the fixed P+I payment).
I prefer ground chuck for burgers on the barbie, it's 80-20 lean-fat. Ground round is 85-15 here and ground sirloin is 90-10.
More fat makes a juicier burger with more flavor!