Is your Social Security Getting an Increase? July 2024 COLA Estimate Update

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  • Опубліковано 2 сер 2024
  • Learn how the Social Security COLA increase impacts retirees and why staying informed is crucial. Discover strategies to manage rising costs and maximize Social Security benefits effectively.
    In today's update, understand the new Social Security cost-of-living adjustment (COLA) estimate for 2025 which is crucial for retirees including SSDI, SSI, seniors, VA, and low income, relying on these benefits amidst rising inflation. This adjustment helps match Social Security benefits to increased living costs like food, electricity, and healthcare. Understanding how COLA is calculated, based on the consumer price index for urban wage earners, is vital. The impact on budgets, especially for essentials and medical services, is significant. Knowing this helps manage finances better against economic shifts, ensuring seniors can handle expenses with their fixed incomes.
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КОМЕНТАРІ • 27

  • @moneyinstructor
    @moneyinstructor  22 дні тому +2

    👉SUBSCRIBE FOR UPDATES: www.youtube.com/@moneyinstructor?sub_confirmation=1

  • @QuincyHouse-kv9he
    @QuincyHouse-kv9he 21 день тому +12

    Why Congress Can't Send Us Seniors 120.00Food Stamp A Month WE Need Food Also HELP US PASS VOTE.AUGUST Next Month WE Need Help Before NOVEMBER.HUNGRY😢😢.

  • @raymondschwartz119
    @raymondschwartz119 21 день тому +5

    My rent just went up $100. That's on affordable housing. I'm on SSDI

    • @heathenprojects2639
      @heathenprojects2639 17 днів тому +1

      I know alot of people rent went up with the raise and only going up more

    • @luperon
      @luperon 17 днів тому

      Many complaining literally voted for their increase. Remember that in November.

  • @user-ol1ru7ww8n
    @user-ol1ru7ww8n 15 днів тому +2

    The small raise they take back in Medicare payments

  • @choom-
    @choom- 13 днів тому +4

    2.7% increase is what their talking about that works out to 26 whole dollars gee thanks feds smh

  • @dorothybermudez8904
    @dorothybermudez8904 11 днів тому +1

    Inflation only decreases when necessities are not included in what the COLA is based on.

  • @JamesHollinger-lt8qx
    @JamesHollinger-lt8qx 11 днів тому +1

    Does anyone one know what items THEY use to figure the inflation rate to establish the COLA increase.
    Not as a group.
    But each specific item
    Is it just me
    Or do you think each one should be listed. Year against year
    With the history of each year made available

  • @dorothybermudez8904
    @dorothybermudez8904 11 днів тому +1

    The people who determine this are all wealthy enough to not be discommoded by the price increases so they have no realistic view of the difficulties most of us have. Not that they care.

  • @QuincyHouse-kv9he
    @QuincyHouse-kv9he 21 день тому +3

    7Month U Talking About 2025..Where the Help For 2024 Shame On Congress Help Help US Seniors And Vote To Help US.2Weeks It Will Be August And No HELP.HELP Nothing PASS WOW.😢😢

  • @marchelleminor5840
    @marchelleminor5840 15 днів тому

    Okay

  • @cookiem4147
    @cookiem4147 5 днів тому

    But don’t we have time still into October come on people wow

  • @solorzanoernesto-on7fc
    @solorzanoernesto-on7fc 22 дні тому +5

    Were still in 2024 and your talking about the next year

    • @moneyinstructor
      @moneyinstructor  22 дні тому +1

      Hey there! It might seem early, but people are just trying to plan ahead. The COLA estimate helps folks prepare their finances for the upcoming year. Thanks for your comment!

    • @truthlives6107
      @truthlives6107 21 день тому

      ​@@moneyinstructor
      Until the middle of October, it's all blah blah blah. The increase needs changed with THE CPI - E
      NOT KEEP USING THE
      CPI - W .
      UNTIL DEMS ARE A MAJORITY IN HOUSE AND SENATE - IT WONT EVER CHANGE AND SAME FOR THE SS 2100 ACT

  • @veronicakolczynski8948
    @veronicakolczynski8948 22 дні тому +9

    Bs my food keeps going up rent goes up elictric water goes up.who u tryinh to kid.

    • @moneyinstructor
      @moneyinstructor  22 дні тому +3

      I hear you! The cost of living is definitely rising, and it's tough. The COLA estimate is meant to help with these increases, but it doesn't always feel like enough. Thanks for sharing your thoughts!

  • @patrickodonnell9388
    @patrickodonnell9388 6 днів тому

    Well the Forcast is BS inflation is rising it has not gone down not even alittle bit it has gone up 9.8% each quarter so that makes inflation is 39.2% so lets get real.

  • @user-je1ud6zn1j
    @user-je1ud6zn1j 18 днів тому

    😂😂🎉😅

  • @zenos.5315
    @zenos.5315 16 днів тому +1

    What a joke thanks, Joe Biden

    • @davidhauff8779
      @davidhauff8779 11 днів тому

      You better move to Russia with Trump, see how that goes for you....