After writing about how the price of health care and everything else does indeed double every ten years, more or less, I knew I wanted to follow up with a few thoughts about retirement planning and how the compounded effect of normal inflation must be considered in planning for retirement.
When Social Security was first established in America the retirement age was 65 years while people lived, on average, only a couple of years longer. Now, life expectancy in America is nearing 80!
In other words, people may well see their cost of living double twice during retirement. Actually, some may experience much more since living to age 100 is not at all unusual.
Consider a very real potential.
