Am I Better Off Today?

 

This seems to be the question that is on most people's minds because the media keeps asking this question...

In 2015, my wife I retired and in 2016, Donald Trump became President.  We were energy independent, and gas was fairly inexpensive.  When we went to Perkins Restaurant for Brunch, I ordered an everything omelet (at least 2 eggs). breakfast potatoes, and 3 buttermilk pancakes for $9.95.  At Cheddars, I would order an 8oz grilled Salmon on a bed of rice, a baked potato, and broccoli for $11.95.

In 2024, we are not energy independent, my Perkins everything omelet+ costs $16.95 and my Salmon+ costs $18.50.

That is a huge increase in just 8 years...

When my wife and I retired, we were DEBT FREE.  We still are debt free, even though our costs of living have increased about $1,200 more each month.  Our property taxes have doubled in value and IS NOT COUNTED in our cost-of-living increases.

HOWEVER...

my wife and I are living off of Social Security and our savings and fortunately for us, we have been able to save enough money to cover these increases in our expenses...

BECAUSE...

we were able to cover our expense increases, we are no better or no worse off in 2024 than we were in 2015/2016.

THEREFORE...

neither of us understand the question nor do we understand how people are suffering so much when there is not much suffering going on in East TN.

PLUS...

my wife and I are living on Social Security and Savings and these other people are working full time.

Our guess is that these people were WAY INTO DEBT before COVID hit and it is this debt that they are having trouble addressing.

If a couple or individual has a bunch of debt and then has to pay rent or a mortgage, plus car payments, it is very difficult to pay other monthly expenses in they increase by $1,000 like they did on us here in TN.

Most working Americans LIVE ABOVE THEIR NEEDS so when a downturn happens, a sickness, a layoff, or inflation, it is natural that they would have trouble paying their bills.

I also find it rather interesting and humorous that no matter how bad one's financial situation is...  they always have money to buy cigarettes and alcohol...

THINK ABOUT THAT.