The eleven items are:
- real estate
- gasoline
- ground chuck
- propane gas
- potatoes
- total medical out of pocket costs
- home heating oil
- veterinary service
- homeowner’s insurance
- Medicare Part B
- prescription drug out of pocket costs
The last two increased by 226 percent and 272 percent. Retirees’ Social Security checks have not increased anywhere near 100 percent since the year 2000. What does that mean? Retirees are losing purchasing power.
Inflation is causing a reduction in the standard of living of America’s retirees. Shouldn’t we plan for this lost purchasing power?