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Joe writes,

In this, Peter Ponzi aka Gummy, a math professor who had written other retirement articles on his about-investing webpage, discusses how the real returns of LBYMers may be better than that indicated by the CPI because their standard of living is less than that assumed by the CPI. I had not seen this topic discussed before, but if it is true it seems to me that it might affect one's calculations of what one needs to FIRE.

This was basically the agrument of the author who wrote "Your money or your life. There are other factors such as having a paid-off house that can lower your personal inflation rate.

One word of caution. There are some costs that many retired folks incur where LBYM only has a very limited effect. For me that is health insurance, which has been growing at a rate a lot faster than inflation. So to project my future COL , I averaged the anticipated grow in health care costs (15% per year) with very modest growth in all other costs.
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