The reason is that my expenses will go up with inflation...
That's what the CPI claims, but our personal experience has been that some expenses go up while others go down.
For example, here are a few changes that I would not have predicted a decade ago:
My daily calories have dropped during my 40s, and I'm eating 30% less than I was in my 30s.
I've stopped drinking soda and alcohol, which drops another expense out of the grocery budget.
Our teenager moved out, which cut our food bill nearly in half. (I would've thought 33%... but 45%?!?)
Photovoltaic costs have dropped precipitously in the last five years, and our electric bill is under $30/month.
Our sewage bill is rising by 75% over a five-year period to replace the infrastructure. It's now nearly 4x our water bill.
Travel/vacation expenses have gone way down because we do it differently.
Furniture expenses have cratered (Craigslist).
Our insurance expenses have dropped (no more personal property coverage).
Replacement electronics. A decade ago we owned seven VCRs and a five-CD carousel player. Today CRT TVs are free at every neighborhood curb.
Home maintenance/repair expense have dropped. We have the time to DIY and "fix it right".
Note that I was already retired before any of these changes happened.
