Posted on 10/19/2016 11:09:59 AM PDT by MaxistheBest
The typical retiree's monthly Social Security check will get only $3.92 bigger next year.
That amounts to an increase of just 0.3% -- the smallest ever put in place to help cover higher prices.
That's still an improvement from this year, when the lack of inflation kept benefits from increasing at all. The average retiree's monthly benefit is currently $1,305.30.
"Over the last five years, Social Security COLA's have remained small or nonexistent," said AARP. "Every cent can matter to beneficiaries and their families. After last year's zero COLA, this year's announcement doesn't offer much help to the millions of families who depend on their Social Security benefits."
Retirees also spend a bigger proportion of their money on health care, for which prices have risen faster than overall inflation.
"As prescription prices skyrocket and Medicare premiums and other health costs increase, many older Americans have understandable concerns," said AARP.
At the same time, retirees are hurt by low interest rates because many depend on savings to cover at least part of their living expenses.
(Excerpt) Read more at money.cnn.com ...
SS recipients don’t seem that outraged at all. “Where is the outrage”, as Bob Dole asked in 1976.
Bob Dole in 1996, that is
I am sorry to say I was slow to catch on to “Lying Ryan”, who should switch parties. But I caught on way before the people of WI ever will.
I am sorry to say I was slow to catch on to “Lying Ryan”, who should switch parties. But I caught on way before the people of WI ever will.
It was directed at you and I worked continuously since 1964 (including military and served in Vietnam). I paid into the system for the last 52 years, so I feel what I get BACK is NOT for doing nothing, thank you very much...
Barbra Streisand. I contributed maximum amount every year in social security taxes from age 22 through age 58. I will never get my money back unless I live to be 105 years old. I invested similar amounts in stock mutual funds every year, and the return from my own simple strategy of investing in SP500 funds is now yielding me 5 times the social security checks by purchasing a fixed income annuity. The SA country of Chile has a social security program in which workers retirement tax is partially invested in stocks, and that has resulted in Chilean's receiving much better pensions than US retirees.
I will NOT brag that I saw through him before he took the Speaker’s gavel... and I never thought any so called Republican could be worse than Boner.. but lying Ryan is a despicable punk.
It’s YOUR fault. Not mine. Not America’s. Yours. Do not pretend you do not understand this basic fact.
If you can’t pay your bills, figure it out yourself. You are the one responsible for you.
OMG! What on earth will I do with all that extra money? I know, I know...a loaf of bread.
Plz read my post #68
Thanks...
I did not post that I couldn’t pay my bills, you idiot.
Learn to read.
I just posted that rents and medical costs increase many times more than the 0.03% raise.
Meanwhile, Congress spending $billions every day. The US government spends more on paperclips every day than I would get out of Social Security the rest of my life.
“A big fat two Twenty dollar bills for our seniors to spend for all their essentials.”
I’m 84 and don’t know ANYONE who lives on just SS.
Most of us have pensions and savings to draw on.
.
Once again, you are responsible for you. Don’t justify your complaining because you think someone less worthy than you gets more than you, or somebody wastes money so they should give you more.
This is a big issue for me. This is the main reason why I think Obama and Hillary are bad presidential material. Hillary will continue the same anti-senior rapacious policies of Obama. People retire expecting that the government will uphold the contract they made with seniors and federal and postal retirees who expect and count on a fair and decent COLA in their check. When the government changes the rules in the middle of the game (thank you, Obama) while bringing in millions of illegals and Muslim refugees to flood the system and take billions out in welfare benefits for a generation, then I have a cause to complain. Obama and Hillary care more about Huma’s people than about me.
Then don’t apply for yours when you become eligible...
***************************
Good one!
Thank you...
All you need to know about Social Security is Ida Mae Fuller.
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