When I retired seven years ago, I thought I had things pretty well set up financially. After all, I had a sturdy four-legged stool of Social Security, a generous pension, 401k savings, and a working wife. She expected to work for two more years, adding to our retirement savings. However, the company she worked for had other plans and soon she too was collecting Social Security, while the stool was getting a bit wobbly. 

Covid struck while we were living in a pricy downtown Portland apartment and travel plans were put on hold. We started building a Florida retirement home and money began to rapidly flow only one way -out. We invested more than expected in our home, although wisely deciding on a resort community, pool and upgrades that will ultimately pay off. Needless to say, our budget has grown tight with my wife’s champaign taste and our mutual interest in travel. We’ve driven across country twice – Oregon to Florida; ventured to Glacier National Park; toured the Midwest and stayed at the iconic Grand Hotel; boarded Viking luxury ocean & river cruises to Normandie, Santorini, Alaska, Hawaii, and Egypt; took side trips to Miami, Savannah, St. Augustine, Tampa, the Keys, Frankfurt, Pittsburgh, Athens, Venice, Amsterdam, Paris, Petra, Honolulu, Bangkok, London, Rome, and Vancouver; plus, utilized the Marriott Vacation Clubs in Maui, the Big Island, Kauai, Amelia Island, Miami Beach, Phuket, Las Vegas, Panama City, Hyde Park, Marco Island, Orlando, and San Francisco.

We’ve already paid most of the cruise and lodging expenses to travel next spring from South America, through Africa, and into Spain, plus five nights in Mallorca. Airfare is due soon, another worthwhile drain on our 401k savings but wisely settling for economy seating rather than our normal business class accommodations. These pleasurable journeys have all been anticipated retirement expenses, although in too many cases, more costly than expected in these inflationary times. Even a McDonald’s Diet Coke is now $2.17, up dramatically from the traditional $1 paid since I can remember.

Increasing food costs, insurance, gas, dental, medical, and utility bills are quickly eating into my retirement budget, while contingency funds are running out. This coupled with recent unexpected setbacks like a lost diamond from my wife’s wedding ring, a bad thermostat, and other surprise home repairs have me wondering about our retirement future. Will we be back at work after the traveling is done?