You know, I used to think I had enough stashed away for retirement but I am really wondering now.
Yep we are in the age of $30 pizzas , $10 being charged for just 12 average cans of Coke or other soft drinks. Hell I've even seen small jars of mayonnaise selling for over $10, the Wendy's in my area chrsges $14 for its combo consisting of a soda, a small hamburger, and a small fries! That it. A ham I used to buy for maybe 7 bucks is now well over $50 for the exact same size. Watermelon in season used to be $2.50 now it's over $10 in my area For one small melon! Deli meats under 1 pound I used to pay around 3 to 5 dollars, now it's in the 10 to 12 dollar range.
Some practical advice from a lifelong saver with humble tastes and a relatively low cost of living.
If you're reaching the limits of what you have to spend, it's imperative to make adjustments now. How cheaply can you live? What are you spending money on that you don't need? Fast food needs to go or be severely limited. Students do it with Ramen and Mac and Cheese. Here in Mexico, people eat tortillas, rice and refried beans which is nutritious and inexpensive. Maybe you have more streaming services than you need or can afford. Maybe you spend more on clothes that you need to. If you're a woman, you might need to cut back on hair tinting, facials, and mani-pedis. If you're a man, maybe it's time to give up bar hopping and drinking out if you do those things, or online gambling. Do you spend a lot on gas commuting to work? Maybe it's time to move or change jobs.
Whatever your current situation and standard of living, the principle is the same: can I still live in the manner to which I've become accustomed? If you can, then just pay the surcharge. If that's impossible or becoming that way, don't wait until all of your resources are exhausted before you begin downsizing your life.
The important thing is to not get to the point where you are unable to afford your standard of living and to have exhausted your savings and credit, and it doesn't matter who you think put you in that position. It's very difficult to come back from that late in life. I know. Mexico is a haven for those who are living on just a Social Security check, but many of those people are now beginning to be threatened with homelessness and food insecurity, and unless they find a benefactor, there's no way out for them.