OP, it doesn’t matter what your income is. If your income stays the same, you have to adjust your budget as costs go up. We had really low inflation for a long time. You should have more than enough slack to adjust for these increases. If you don’t, that’s more of a planning and budgeting failure than an income or inflation problem.

If OP is 50 years old with this income and doesn't own a home, I think that is telling about his or her priorities and spending habits. Its likely his or her rent has increased dramatically over the past few years. Prices have increased a lot - I get it! But the time to start prioritize saving and building wealth through savings and homeownership was years ago. Sadly if OP buys a home now, her or she won't own it outright until he is 80.

As I've read often on DCUM - you have to pay yourself first. When that paycheck comes in, you have to figure out a way to curb your spending so you routinely save at least 20% of your savings, on top of other savings like retirement savings.

If OP hasn't started a budget, the time is now.

Anonymous wrote:And every day some other expense doubles or increases by 10-20%. WWYD? I am 50 and don't own a home.

I’ll bite. I’m a single parent and I make $230. I understand what you’re saying about the constant increases. Everyone is feeling that. But I’m choosing to stuff money into my retirement accounts. I know where my money is going. I wish I had enough to have the amount of disposable income I think I should have in my brain. But as long as I make the choice to save it, I don’t get to spend it today. So Op—where are you spending your money?

Anonymous wrote:And every day some other expense doubles or increases by 10-20%. WWYD? I am 50 and don't own a home.

Our married income is less than that.

We earn less, own three properties (with paid off mortgages), and have two teens (one at an $80k+/year college). And we're doing just fine financially.

If you're struggling on that income, OP, you're doing something wrong.

Everything has gone up except customer service. 200k is alot of money. No need to keep buying stuff if you don't need it. I hope you save some for retirement.

Anonymous wrote:You're doing something wrong if you're trying to say you're struggling with this income

I agree. This is plenty of money. Do you have high debt?

We are a family with two adults, making less that that and are doing well. You have a spending issue.

I'm a single parent on a $77K income. What's your question?

Anonymous wrote:I'm at $165K and own a home, send one of my kids to private school, and am on tract to retire with $180K a year. Pull yourself together.

+1.

If you can't figure out a budget on this amount of income I think you need to pull in professional help - hire an accountant to get your money in order and see what you're spending on and get you organized..

I'm at $165K and own a home, send one of my kids to private school, and am on tract to retire with $180K a year. Pull yourself together.

Do you have 47 kids or something? Or is this a humble brag?

You're doing something wrong if you're trying to say you're struggling with this income

And every day some other expense doubles or increases by 10-20%. WWYD? I am 50 and don't own a home.