First World problems.I will point out that inflation for “luxury” goods such as higher end travel is up 70-85% since 2019. My salary certainly isn’t up 80% since then.
I could care less about the cost of eggs and milk - but when I used to be able to ski slopeside at a 4 star hotel and now it’s $1500/night, that “feels” like a downgrade in lifestyle. I could pay it — but won’t because luxury items are discretionary and it’s not worth that to me.
Obviously no one should feel bad for anyone in this situation at all- but I give this example to point out that inflation absolutely can be influential and noticable even to “rich” physicians who don’t feel “better off” necessarily.
I agree with @BLADEMDA as well that it makes me re-think my retirement number. I used to think 10M was super-conservative, now I’m thinking it’s necessary if I want to do the (admittedly luxury) things thay I want in retirement.
Wealthy Travelers Are Fueling a Surge in Luxury Hotel Prices
According to new data from Virtuoso, hotel rates reached peak levels this year while travelers continue to spend big on luxe resorts and train trips.robbreport.com
Only 10% of people retire with 1M
Physicians (most rich people) are truly out of touch.
Can You Guess How Many Americans Actually Retire With a Million Bucks?
Saving $1 million (or more) for retirement is a great goal to have. Putting that much aside could make it easier to live your preferred lifestyle when you retire, without having to worry about running short of money. However, not … Continue reading → The post What Percentage of Retirees Have a...
finance.yahoo.com
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