Big Jump In Soc. Sec. Payments?

[fmdog44]

Social Security checks may see biggest hike in four decades (msn.com)

 

[Kadee]

The last time we got a raise was in March the amount was $1.50 each a week
I’m in Australia let’s hope we get a decent raise one day

 

[Butterfly]

Social Security checks may see biggest hike in four decades (msn.com)

So Medicare will go up to match it, as usual?

 

[chic]

So Medicare will go up to match it, as usual?

And all of our bills as well. As soon as people are known to get an increase major corporations find a way to steal it all and put it in their pockets and people end up as badly off as before.

 

[Chet]

I guess there is a plus side to inflation after all.

 

[Don M.]

The way inflation is creeping up, any increase in SS benefits, next year, will probably buy little more than a loaf of bread and a dozen eggs. News reports indicate that inflation for 2001 will be above 5%....the government will probably translate that into about 2% for SS.

 

[Giantsfan1954]

If they raise Medicare it’s usually a wash anyway.

 

[Aunt Bea]

I'll take whatever they give us and be thankful for it.

It wasn't that long ago when our old age was 100% self-funded. Imagine what it would be like if we ever had to return to those days.

In this Oct. 4, 1950 photo, Ida May Fuller, 76, displays a Social Security check for $41.30 that she received at her home in Ludlow Vt. On Jan. 31, 1940, Fuller received the country's first Social Security check for $22.54. By the time she died in 1975 at age 100, she had received nearly $23,000 in benefits.

AES—AP

 

[Lizzie00]

I'll take whatever they give us and be thankful for it.

You and me both!

 

[Colleen]

I'm just grateful we don't need it to live on.

 

[fmdog44]

So many happy and positive responses.

 

[terry123]

Mine is usually a wash. Last year I actually got an extra $4.00. I was excited!

 

[Kathleen’s Place]

Yay!!!! It will be thankfully welcome!

 

[OneEyedDiva]

It will be a very pleasant surprise if the COLA actually is 6.1% as predicted. It would be even nicer if Medicare doesn't once again eat it all up with their annual increase.

 

[garyt1957]

I'll take whatever they give us and be thankful for it.

It wasn't that long ago when our old age was 100% self-funded. Imagine what it would be like if we ever had to return to those days.

In this Oct. 4, 1950 photo, Ida May Fuller, 76, displays a Social Security check for $41.30 that she received at her home in Ludlow Vt. On Jan. 31, 1940, Fuller received the country's first Social Security check for $22.54. By the time she died in 1975 at age 100, she had received nearly $23,000 in benefits.

AES—AP

Can't speak for everyone but I'd be much better off if they had let me keep my SS contributions and my employer's contributions and invest them myself. But I realize many people wouldn't do that and for them SS is a Godsend so I'm OK with it

 

[ProTruckDriver]

Not a big enough jump with the price of gasoline going up every week.
Wait until the price of diesel is almost double the cost of gasoline. That's coming soon, mark my words.
Guess who is going to pay for the increase of fuel for the big rigs delivering the goods? YOU!!!

 

[flowerchild]

I agree with all of you, it won't be enough to pay for the rising prices of everything. It won't be a gain for us in the end.

 

[Liberty]

The way inflation is creeping up, any increase in SS benefits, next year, will probably buy little more than a loaf of bread and a dozen eggs. News reports indicate that inflation for 2001 will be above 5%....the government will probably translate that into about 2% for SS.

Think it will be higher...at least over 5%:
https://www.thinkadvisor.com/2021/07/13/social-security-cola-estimate-for-2022-raised-to-6-1/

 

[Alligatorob]

Anyone who has to live exclusively on social security has my sympathy. I don't think it was ever meant to provide anything more than a minimal safety net, and for some it probably doesn't do that.

I was never a big supporter of social security, but now that I am moving from the paying for it to hopefully getting something out of it place in life I want it to pay as much as possible. A 6% "raise" ain't much, but its something...

 

[fmdog44]

The average price to rent a two bedroom apt is now $1,700/mo

 

[Colleen]

It will still fall short of making any difference in the COL....especially groceries.

 

[Alligatorob]

The average price to rent a two bedroom apt is now $1,700/mo

That is incredible... I don't think it is here, but I know rents are up. Is this a national average? A lot of retired people live in apartments.

 

[OneEyedDiva]

That is incredible... I don't think it is here, but I know rents are up. Is this a national average? A lot of retired people live in apartments.

I don't know if there's really such a thing as a "national average". Different areas of the country and even different areas of each state have rental costs that can differ widely. I know we see that here in Jersey.

 

[Aunt Bea]

$1,700/mo is the average in our university section.

I would be more interested in the median rent. The median rent in my area is about $850/mo.

The statistic that concerns me the most is approx. half of the people in my area rent and half own. The drop in home ownership wouldn’t concern me if I believed that the renters were saving and investing the money that could be going into a home.

 

[squatting dog]

In our area of Florida, the average apartment rent is $1,357, a 22% increase compared to the previous year. And fixing to go even higher. I've been blessed that the wife is a stock market genius, or I'd be living under a bridge somewhere these days.