COLA increase for Social Security

Marie5656

Marie5656

SF VIP
Location
Batavia, NY
Just checked the myssa.gov website to see my COLA increase. 5.5% will be giving me about an extra $100 after deductions. That works. But, personal expenses always go up too.
I am so glad for SNAP and energy benefits. They do help.
 

Don M. said:
The rise in inflation, over the past few months, will quickly eat up any SS increase. At best, we may "break even" with this increase.
Click to expand...
If you mean break even on being able to purchase the same amount of goods come January, as you did in January 2021, then yes it might be close. It does not recover the loss of spending power over 2021. That is gone forever. Wish it weren't so, but there is nothing which will recoup that... unless a very sharp deflationary spiral occurs. TPTB fear that more than any erosion of the average Americans purchasing power, imo.
 
I was able to see my new amount more than a week ago although SSA.gov announced that info would become available in early December. I thought the COLA was 5.9%. Most of what I'll net (about $52) after the medicare increase will likely go to a rise in our carrying charges (aka HOA fees). Our mortgage was paid off a few years ago but the taxes went up again so that raise is necessary to keep up with our expenses.
 
Marie5656 said:
Just checked the myssa.gov website to see my COLA increase. 5.5% will be giving me about an extra $100 after deductions. That works. But, personal expenses always go up too.
I am so glad for SNAP and energy benefits. They do help.
Click to expand...
Ditto.
If it weren't for SNAP, I wouldn't eat!

I haven't used my energy benefits in the last couple of years, but I may this year.
 
Everything seems to be going up these days, so the increase of 5.9 per cent is offset by insurance, medical Part B and supplement increases totaling $90, as well as rent increase of $200.
 
My increase is $47. but my rent is going up now, either $33 or $21 (our manager doesn't know which because they give us a paper that no one can understand). Then when I recertify it will go up a bit more in June. That is subsidized housing for you. But even so, I do not pay what an apartment like this would rent for without it.

I too, could not survive without SNAP, Medicaid or HEAP. I worked but did not make enough money. Part of the reason was because I was a stay at home wife and mother. Part of my benefit is from my husband's SS. I am very thankful for what I get and that I can live somewhere nice and be happy.

Since my apartment is all electric, HEAP has been covering all my electric bills since I moved here. I paid a couple when I moved in but after applying for HEAP, none.
 
funsearcher! said:
Everything seems to be going up these days, so the increase of 5.9 per cent is offset by insurance, medical Part B and supplement increases totaling $90, as well as rent increase of $200.
Click to expand...
That's an awfully hefty rent increase! Is that even legal? At least the state health benefits retiree program reimburses me $46 monthly (for Medicare B, I think).
@Giants fan1954 "The Medicare increase is from 148.00 to 172.90..."
According to my new SS statement, the Medicare premium will be $170.10.
 
many times lower income people are better off in high cost areas like nyc in retirement….
there are so many perks for seniors .

one of which is seniors who have less than 50k in income are exempt from any rent hikes if the rent takes more than 35% of their income …

half of all rentals in nyc are stabilized and those seniors who qualify dont see another increase …the landlords are offset with tax credits
 
mathjak107 said:
many times lower income people are better off in high cost areas like nyc in retirement….
there are so many perks for seniors .

one of which is seniors who have less than 50k in income are exempt from any rent hikes if the rent takes more than 35% of their income …

half of all rentals in nyc are stabilized and those seniors who qualify dont see another increase …the landlords are offset with tax credits
Click to expand...
Yes, but the problem is you have to live in the city, right? Many times in tiny rent controlled apartments?

That would not be our cup of tea, for sure.
 
no not all . rent controlled apartments are not rent stabilized apartments..

those dingy small rent controlled apartments are down to about 6% of rentals . only the original tenant from the 1970s gets that rent controlled apartment

stabilized is different and more than half of all rentals are stabilized and are in all boroughs .

we have a nice 2 bedroom 2 bath apartment with pool and tennis courts .

we are pretty much at market rent even though my wife is here 40 years .

dont think rent stabilizedf means cheap rent .

all it means is uou have certain protection and rents are determined by a rent stabilization board .

rents are all over the map for stabilized .

one of the buildings i like is stabilized and in manhattan ..

a two bedroom can run 4-5k a month

https://www.thechrystie.com/
 
Last edited:
My increase is 47.00 but 470.. would be better enough to cover rent and utilities, etc. Luckily I am getting subsidized housing or I'd be on the street or in substandard housing. Thanks so much for what you do for those with disabilities!!!
 
mathjak107 said:
no not all . rent controlled apartments are not rent stabilized apartments..

those dingy small rent controlled apartments are down to about 6% of rentals . only the original tenant from the 1970s gets that rent controlled apartment

stabilized is different and more than half of all rentals are stabilized and are in all boroughs .

we have a nice 2 bedroom 2 bath apartment with pool and tennis courts .

we are pretty much at market rent even though my wife is here 40 years .

dont think rent stabilizedf means cheap rent .

all it means is uou have certain protection and rents are determined by a rent stabilization board .

rents are all over the map for stabilized .

one of the buildings i like is stabilized and in manhattan ..

a two bedroom can run 4-5k a month

https://www.thechrystie.com/
Click to expand...
But where is the nature? And don't saw Central Park. Been there. Just saw an 8 point buck in our front yard...think hub would curl up in a corner and pine away if he had to live in an apartment in any big city, let alone NYC...lol.
 
Liberty said:
But where is the nature? And don't saw Central Park. Been there. Just saw an 8 point buck in our front yard...think hub would curl up in a corner and pine away if he had to live in an apartment in any big city, let alone NYC...lol.
Click to expand...
Forgot to mention - that's what he said he's trying to avoid for the duration 'a little apartment in a crowded environment"...lol.
 
Liberty said:
But where is the nature? And don't saw Central Park. Been there. Just saw an 8 point buck in our front yard...think hub would curl up in a corner and pine away if he had to live in an apartment in any big city, let alone NYC...lol.
Click to expand...
the boroughs are nothing like manhattan…

my wife and i are avid bird photographers ..we have preserves and parks all around us . i will post some shots we took from a preserve 5 minutes from our house ..obviously you dont know the boroughs or long island ..we are right near long island parks and preserves as well .

we are very suburban and far removed from what manhattan life is ,

we can be in midtown manhattan via the long island railroad in under 30 minutes .

we had a second home in the poconos surrounded by woods and nature ,. that life got stale pretty quick .

we ended up selling pre retirement because it was so opposite what we wanted in retirement .

winters were long and cold with little to do .

we had one major hospital in scranton . the first thing gloria estefans doctors did when she was in that horrific crash was airlifter to a nyc.

hospital

there were few specialists and not many medical facilities .

even the things to do in the nice weather got boring .

there was only low paying jobs if i wanted to work a bit in retirement .

the list went on and on , and everything we wanted was right here where we already lived
 

Last edited:
You must log in or register to reply here.

Back
Top