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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Because everything is so much more expensive now. For example, food price has doubled since the pandemic. Your one million dollar at retirement translates only to $40k per year, which isn't much as you can imagine.[/quote]

Doubled? In 4 years? Definitely gone up a lot but let's not go crazy here. Got a gallon of milk yesterday for $3 and 12 eggs for $1.50.

And you need to hit a retirement calculator before you say $1 million is $40k/year. The money will grow, of course.[/quote]
Funny you only picked the cheapest milk and eggs. I know it has doubled for me because I rarely spent more than $100 each week at Costco before pandemic. Now I rarely spend less than $200 with the same type of stuff. For example, a pack of 40 bottles of water was $3 pre-pandemic and is now $7.39.[/quote]

Okay let's both stop anecdotes and see what the actual data shows.

https://www.usinflationcalculator.com/inflation/food-inflation-in-the-united-states/

2020 food inflation : 3.4%
2021: 3.9%
2022: 9.9%
2023: 5.8%

Compounded that's a 25% increase over 4 years. It's certainly very high. But not remotely close to double.[/quote]
You don't really know how the numbers were obtained and processed/weighted. So I won't say the BLS inflation number is representitative of our daily lives. The bottom line is my experience isn't an anecdote. It's the same to pretty much all the people I know.[/quote]

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