Today the big news has been a fall in the rate of inflation, which is great, but it’s not that great. It’s not a fall in prices, but just a fall in the speed of the continuing rise in prices. So, despite confused messages, we won’t be feeling any better off any time soon. In fact the cost of living is still rising, just not quite so fast.
With food prices rising in double figures, many people are focusing on finding the finances to get through the week, let alone enjoying luxuries.
This applies particularly to anyone on a fixed income, including older people on pensions.
Such a lifestyle isn’t quite what many would have envisaged for their retirement. The time and money to enjoy more hobbies, outings and holidays, coffees and meals with friends and family – all these are disappearing from the lives of many.
Is there anything we can do to pull back some of these pleasures into retirement despite constricted budgets?
We published an article on tips on enjoying an affordable retirement on When They Get Older. We looked at travel cards, senior memberships, discount cards, and special offers for seniors directly available from hotels, spas and other indulgences.
We don’t know when the inflationary pressure on prices will end. It seems unlikely that the price of essentials or luxuries will fall in general. State pensions are due to rise, probably, but private pensions are for many dependent on investments that have suffered in the past few years. Squeezing the best we can out of a diminishing pot is likely to become a long-term commitment, sadly.