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[quote=Anonymous][quote=Anonymous][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 [b]my experience isn't an anecdote[/b]. It's the same to pretty much all the people I know.[/quote]

"Your experience" is actually the very definition of an anecdote. N=1, as they say

So yes tell me more about how the FDA and the BLS don't know how to study and track food prices. And your much more accurate vibes based info.[/quote]

And in fact we DO know how the numbers were obtained and processed:

https://www.bls.gov/cpi/methods-overview.htm

I'll await your detailed critique of their methodology.[/quote]

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