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Social Security Update | Retirees Are In Trouble
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- Опубліковано 10 лип 2024
- Social Security Update | Retirees Are In Trouble
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This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.
Not a lot of people are able to save that much in a lifetime. But now you are retired and depend on your investment, it’s best you redistribute your capital. To simplify the process, you could allocate your resources with the help of a financial advisor.
I’m closing in on retirement, too, and I have benefitted so much from using a financial advisor. I didn’t start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who had been investing for many years.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
Her name is Annette Marie Holt can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
In 2019 we sold our house in Austin, Tx, made a good profit, and moved to my wifes Homeland, the Philippines. We had decided on where we were going to live, in a cooler area, and with our daughters and her husband, we found our home, out in the country. We paid cash and also bought a new Pickup Truck. I am glad we did when we did. Life here is cheaper, and more laid-back. We have found our little Paradise here.
Good for you. Now you don't have to deal with the insanity here in the States.
I give you credit for that; my husband and son are not enthusiastic to go to the Phils. even for a vacation. I myself, I can't live there b/c of very hot weather, some inconveniences and not so good healthcare although we built a pretty big house in the Phils. We love the weather here in NY and between the two us, we're ok w/ our pensions.
@@jingwills6267 I can understand about you and your families doubts about living in the Philippines, It's not for everyone. We had found a place wheere the weather was to my liking. Temperatures here are usually in the 70's and 80's for most of the year. The traffic is horrible. But the beaches are beautiful along with the Mountains. We have an active Volcano nearby, but it is one of the most scenic areas in the Philippines. I have been travleing around the Philippnes for over 25 years and I found the people here to be somie of the friendlest people in the world, and the hardest workers too. I love it here and my wife has family nearby so she is very happy too. Thanks for watching and hope you will continue to watch as I try to show what its like living here. If you and your family ever decide to come for a visit, please feel free to come by our place and we will show you around.
Prices will never go down ever don't kid your self 💯
What happened is inflation didn’t go up as fast in the previous month- inflation still happened. The pain for all of us continues to gets worse.
He is not kidding himself but to us because he thinks that he is one of them.
Inflation is down to 3% from 9.1% about 3 - 4 years ago. The Fededal Reserve target is 2% and we're almost their.
@@jimmyowens954
Kkkkkkkkkkkk hahahaha
@@GovernmenMagnitude Education is worthwhile investment. You may even learn a little economics and statistics to help you better understand these conversation and make meaningful contributions.
It doesn't matter how much the cost of living could be, ever time SS gives 20.00 dollars increase the rent gis up by 80.00 electric bill,gas bill not to mention car insurance!!! So how it's that 20.00 help anyone?? Totally BS!!
You are collecting an undeserved Federal welfare check. Stop complaining.
It's like "they" see that we're getting a raise...or more money... and then the scoundrels find away to take it all away from us!
Looks too easy! The Government is managing our spending... forcing US to put it back in the economy (propping up the economy), and "they" get richer for it... through taxes and regulatory fees from the Government.
Homeless on top figure that out.sucks😂😂
I had no choice to go back to work.who can live on 351 month age 64
@pamelamallory3922 That's a shame that we have to go back to work. To make ends meet when social surcurity so low. I pray for you, wow
The first thing is to stop the Free Health Care for all in Congress .
Don't have it.
And illegals
@@barniaburton1205ok trump
My wife and I are not in the majority of retirees. We are raising 2 grandkids, which forces us to use credit cards to pay for food and extra med expenses. We rent and rent has gone up 50% in 4 years. I do not know what grocery store prices have gone down but, the ones here are steadily going up. Same with gas prices.
It makes me so mad that we have all that money to send to Ukraine and not enough for seniors.
You forgot to add Israel. That adds double to the amount being given to a foreign land.
You forgot Illegals, Migrants.
@@BLKShadow You very conveniently forgot about Afghanistan which is the #1 country in $ the U.S. sends money to.
And Veterans are living on the streets😢
@@Mr.boombastik420 I'm a disabled Vietnam Vet and no one gave a shit that I was homeless 13 years ago. I had to work my way out. No one is coming to save them.
Don’t forget when cola comes so does the cost of Medicare. So cola is minus.
You are collecting an undeserved Federal welfare check. Stop complaining.
Does not work that way
Yeah,I did some more looking into it and it's tentative on the 2.7%increase,but if it is then on my Medicare premium is 174.50,set to increase to 207.00$ill wind up with increase of about 45.00$,so you are correct .
@@solovinoification Medicare premium to $185
No different than for the workers paying for the current retiree benefits. They are getting lower rate increases than Social Security, yet more of their income is subject to FICA taxes, and their healthcare insurance costs are rising along with other costs.
GeeWiz, how can we send billions to other countries and can’t fund our own Social Security…?
Well, if social security runs out of money, we'll just go after the ones that have the money you're getting 4 times as much that we're getting from the govei mean, how's that Sound. And it should be stopped passing out so much money to the ones that are coming across the border. That's our tax money and our retirement money.
When social security goes broke. That's what you should be saying. Lol
Every retiree should email JD Vance with their opinions and cc Vivek Ramaswamy to make sure our voices are HEARD….
@@lori6156 Like they care! Only working for the lobbyists.
The money is going to subsidize large corporations, such as oil and gas companies, not immigrants. Large companies are paying millions of dollars in salaries and bonuses to executives, while refusing to pay workers livable wages and raising prices to be able to pay those executives. That’s why 1% of the population has more money that the other 99%. Stop blaming the poor and immigrants and start putting the blame where it belongs, on the ultra rich who probably don’t pay as much income tax as you.
B/S. Prices go up 20 to 30% Beef, eggs, bread, taxes, electric bills, gas, bills, homeowners insurance, car insurance.
Then that goes down 1/10 of one percent and they say inflations going down, BS
Funny how the CPI always drops every July-Sept.
That's right. Liars figure but figures don't lie.
yeah but you can bet the sensors and Congressman will all get a 8 to 9% raise that you in bed on email people on Social Security get like maybe one and a half to two and a half percent the problem is they stay on vacation three quarters of the time
This is depressing
@@joeconley897Ladders give snakes 🐍 take
You are collecting an undeserved Federal welfare check. Stop complaining.
Yes we worked and paid into Social Security all our lives!
but when ss first came out people were not living as long, so people were dying in their 60's not like now living into 80's and 90's.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
YOU JUST PROVED THEY ARE LYING ABOUT THE INFLATION RATE....
The Government does this every year CPI goes down. They screw over retirees every year.
That's why they do every kind of lying to keep the CPI lower than it really is, so they can silently steal the value of your money through inflation.
Social Security is Federal welfare for the elderly
@@jamesripton7120It’s welfare for the wealthy for sure…
@@jamesripton7120 nice lie some people have paid in over 1 million dollars the AVg person has paid in 400k
@@jamesripton7120 Welfare is when you did not pay into it, not when you paid into all your life.
Also, with the cola on everyone’s check once a year, Medicare takes more than half of the cost to raise our cost for the Medicare insurance so in reality we’re lucky to get to one and a half percent after they take money and raise our Medicare insurance
Medicare takes all of our social security rise And then some and end up paying more than we should pay
I applied for ss at 62. Get it asap before it is no more. 😮
My inflation is 40%, not 8%.
yea
SS is the best program the government ever had. Retirees are a big voting block, don't make them mad.
The government does not care about the people. We are faced with the prospect of running out of money if we live long enough, even though we scrimped and saved during our working years.
@@marlysthoreen4363 mouse in your pocket? Still saving and investing at 70. My future does not include monetary worries. The answer is and has always been financial discipline.
@@marlysthoreen4363 All too many neither scrimped nor saved during their working years, so arrive at retirement broke and terribly disillusioned about SS benefits.
@@marlysthoreen4363How come they never say welfare is going to run out or money to pay all the government workers bleeding us to death
So stop voting Democrats
It always drops July, Aug and sept when they take those months to figure out social security increases. Then goes back up in October November.
They think we're stupid???..
The prices are not going down for groceries they are going up where I live. The same for gasoline.
yea
Here in Alabama the Price of food is going up
I had a 4th grade teacher in 1979 who told us in class "You guys won't be able to retire"...I'm 55 now & I see she was right. Retirement isn't sustainable. It's a no can do....
When you get older you can't get a job.
Should of listened to that smart teacher😮
Like the teacher said that to a fourth grade class
But I'm certain that your teacher retired. Free ride pension. LOL
Insurance and taxes on our property.
The Social Security retirees always get the shaft. Food, housing, and medical continues to increase though. Housing costs are over 5 percent but the cost-of-living increase is at 2.7 percent currently.
@@Nancy-px7hn cause we have never mattered anyway
Just be a refugee brought to America you get the red carpet rolled out the best of everything I live on 1368 a month after working 47 years no easy jobs either constant lifting 4 hernias back problems carpol tunnel oh well I'm American I dont count my opinion
35YRS IN A FACTORY..HARD LABOR...NOW ON SSDI WITH HORRIBLE NECK AND BACK ISSUES. LUCKY I GET $1543..BUT I STILL GO TO THE FOOD BANKS IN TOWN.
ILLIGAL ALIENS LIVE BETTER THAN AMERICANS. FJB
@@chuck51561I don't make $1000 per month and we are doing fine. It helps when you plan for years for hard times
ILLEGALS GIVING ALL FREE THANKS BIDEN ADMINISTRATION
@@chuck51561You need to eat. The Government thinks $1543 is fair after 45 years working while Government workers get big pensions. Take advantage of any program you can qualify for. Hopefully Obamacare is real inexpensive. All the best.
This is way wrong economy is at its worst prices are high
You are collecting an undeserved Federal welfare check. Stop complaining.
the your bidenomics at work for you vote that idiot out of office
Doesn't really matter because regardless amount medicare premiums go up snap goes down
The inflation is not going down it just didn't go UP as much. It still went up. Get it right. They seem to think seniors are stupid.
What happens to the Social Security paid in when someone passes on their 65 or 67 Birthday? They never drew on that money so where does it go? Prob thousands passed before they ever signed up for benefits....
It gets paid out to those collecting SS benefits
They gave all of the money away paying spousal benefits to housewives who never worked. LOL
@@gregorylyon1004Workers want their widows taken care of
It all gets sent to the computer programmer that wrote the software.
That’s the way the system was designed in the first place. A certain percentage of people have to pay in for most of their lives and die without collecting any benefits in order to make the numbers work out.
What about those who can't work anymore because of disability .
All I can say is vote!!!
Prices will go down so they don't have to give seniors a cost of living raise!!!
Prices never go down, they just increase at a lower rate.
As the 3rd quarter approaches, inflation is always reported lower without regard to reality. This saves a broke and insolvent government a few bucks. Remember, SS is not a typical handout program and the recipients don't have much choice. Take what you get and be happy.
Let them eat cake.
I moved to Mexico over 15 years to be able to afford housing and labor. 1600 sq ft home . Rent is $180 dollars a month. Shame I cannot afford to live in the U.S.
How is inflation going down??? When everything is overpriced. Rent , bills, insurance,gas and food.
Nothing is going down everything's going up every month .they cheat every year to pay less to retirees
its democrat bullshit Dr jill needs the money for her trip to paris. and her new designer clothes so she will look LESS FRUMPY
When the government grows more and more
Taxes and fees are increasing more and more money is printed inflation goes up
No tickets, no accidents,no DUI , retired , I'm 71 years old been with the same insurance company for over 35 years and my premium keeps going up every 6 months. That's ridiculous. 😞
Need a 25% increase for direct SSI. Food etc is so high. Take it from Ukraine. We pay them 232 million every month to pay Ukraine citizens pensions. So not our problem.
I’m a veteran 73 years old. I live on a little over $1300 a month. That’s with my VA pension and social Security.
Bless your heart. And thank u for your service.
I am in my early 60s and retired at 53. Lots of people gave me pushback because they had difficulty grasping the concept of not working if you don’t have to. I looked at my life as stages. I earned everything I have now through a lot of hard work, but I owe it to myself to “stop and smell the roses” in my final stage of life. In my case I left the country after I retired and live in Latin America. It allowed me to get away from all the negative things happening in America while appreciating my new environment. I have yet to meet anyone who regrets retirement.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I has spent same number of years in the civil service, she is investing through a wealth manager and myself through the 401k. We both still earning towards having our retirement.
This is true. I'm in my mid 40's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $800k by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
food sure in the hell aint decreasing in price
You are collecting an undeserved Federal welfare check. Stop complaining.
If they cut SS benefits? It could lead to civil war? Many seniors might be the next generation of criminals? Why not cut the cost of living for the seniors and disabled with mandatory Rent Control laws nationwide. Mandatory senior discounts on groceries prices by 60% of their grocery bill. Repeal the taxation of Social Security benefits? Basically socialist policies in favor of disabled and senior citizens? Rent Control to limit how much Land lords can charge for rent to seniors depending on Social Security or any fixed incomes?
sure thing, wage and price controls worked out swell in the 1970's.
vote for paying luxery hotels for illegals
We thought we were investing in a good home but they built monsters with our sacrifices instead. God bless everyone!
My parents were on social security and raised me because my aunt was my guardian that was the only way they could take me but anyway we lived on a farm and we had hard pan or clay as part of our land the feedyard would pay them 25 cents per load and that is how they got some extra money we practically lived by using our farm and what we had on it the cows dad got them big enough took them to the butcher and came home with enough meat that we hardly had buy any meat same with chickens
Back then people worked for what they wanted. And didn't want things given to them. God bless
They're taking the farms as we speak.
House and auto insurance up 40%
Billions sent to Ukraine, no questions asked.
Hey, don't forget, Idiot Biden gave Ukranians Social Security money, plus some illegals are getting it also, and neither group has ever paid a damn cent in. It's BS to be giving Social Security money to people from other countries that HAVE NEVER PAID ANYTHING INTO.
The question was answered after WW2, we made a commitment
We don’t live in a democracy.
The people in the Ukraine are fighting for their freedom. Greedy seniors in the US don't need more Federal welfare
Yes we do and will keep it that way.
Vacation?! I haven’t been on a vacation since 1983!
My space rent just went up by 9%. Still it is much lower than what most people are paying. Every time I go to Walmart to buy groceries I find that prices have increased on something that I usually buy. Car insurance has also gone up and my Medicare Supplemental also. All of this a pretty much the same time.
That's the problem
You
Shop
Walmart
And fund the very people who are destroying this country. Walmarts are secret military bases. It's a proven fact that children are trafficked through the tunnels underneath. Whatever you do, do not call the hotline posted on their bulletin boards because they are not friends to children. DO NOT CALL IT
You are giving excellent advice. People who retire have to understand that you’re not on vacation in retirement, when you’re on vacation you spend money like you do not care. You have to learn to live within your income that you have when you are retired not what you had when you were working.
Insurance goes up
Each Month
Exactly, get rid of bs from your finances, get a job, SS informs recipients how much they can earn BEFORE they deduct, once they reach their FRA they can earn all they want.
@@joycekeuschel1557 I don't know of ANY insurance that goes up MONTHLY.
I also don't know of ANY insurance that goes up MONTHLY.
Exactly, and it feels good to rest your bones.
My husband's retirement amount is only $250.00 Mine is only $370.00 WE Have to work to survive. That's only amounts for food, lights, and water bills.
Sounds like you worked and never saved a dime. In your next life learn to invest and prepare for retirement.
@@rgarri6396 We did. We don't want to live off our savings, so WE add to it by working. Otherwise, it's as I stated. I like to move around while I can. So does he. We even help those who are homeless. God has blessed us. HE will always be there for us all, the good and the bad people.
@rgarri6396 Igot news for you not everybody can save for the retirement age there's no such thing is the golden age ,unless your wealthy inclined not everybody has that privilege
@@juneallen4926 why can’t everyone save for retirement? Can’t you save 10 cents out of every dollar and put it away for retirement? Are you young or old? Did you not know one day you would not work and you would need money to survive? Educate me on what is happening.
@@rgarri6396If you live paycheck to paycheck it's impossible to do.
I don't know where all these BS financial quotes are coming from. The gov't gave us a 3% boost when the actual rate of inflation was actually 15% over just the previous year. Food prices have quadrupled in the last 4 years and now we're supposed to be overjoyed by a supposed 0.1% dip in the rate of inflation? Give us a break!!
As long as the peasants have their bread and circuses they will remain silent.
CPI for food is a lie
All numbers that don't show the US Gov or its policies to be working well are highly suspect. When the US Gov says that something will cost $X, I usually add a zero to that for $10x
and come remarkably close to the actual cost figure. When the US Gov says that inflation is X%, I usually double that to 2X% and that figure then comes close to the actual figure.
It's all about knowing how to interpret the numbers that the US Gov is shoving at us.
What did y’all expect after a global pandemic and all the aid given.. I’m an adult disabled survivor I don’t get welfare…. I’m maintaining.. and I
Don’t live higher than my benefits.. my rent alone is $900 a month , plus utilities and food.. it is what it is but being I was born disabled I know how to live within my benefits.. I wish I had huddled housing but I don’t like being restricted .. do I have a small emergency fund? Yes.. how I save something out every check I get…no matter how small and I don’t touch it.. if I need groceries the last week of the month I can go buy it.. the average person doesn’t even have $500 in savings on these benefits.. but they gave you stimulus money.. but our checks didn’t stop… .. but millions lost their jobs, life,and homes, and we complain millions are worse off…. At least you still have benefits coming in.. idc about cola if it’s $10 I’ll
Save $5.. and that’s just that… .. we can’t complain if the money wasn’t paid in while working or on SSi benefits because SSi is a need based program so being so it comes from the general fund not the ss fund there is big difference in how the two benefits are ran different.. there is nothing we can do.. we got all these SSi over payments somehow so until they resolve that no more money needs to be issued.. I think something positive will happen to ss but not immediately .. but think about it… not all of us on benefits live below poverty level .. even some survivors don’t.. I’m one of these folks, I don’t qualify for welfare benefits.. they cut my check ok but trust me there will be more that will qualify for the extra help .. so it’s going to cause a domino effect.. one way or the other.. they can either raise social security or put more into the general fund.. if not the homeless population will rise because those of us paying fair market rents will continue to have increases .. I’m living it now…. And with inflation comes rent increases..
Excellent comment, well stated and to the point. You are a survivor and have learned to live within your means...out of need and by using your brain. Stay safe and be well. May the father keep you strong.
My husband and I do the same, but own our home, live off less then 18.000 a year for both, don’t live out side out of our means, no vacation, no movie, no going to town with out a plan of what we NEED not want, we now have free delivery for groceries in our area we are using it, no more going to town for that ! Save money people stop spending like you got it when you don’t, your a blessing Gods grace in your life my friend
@@dragonssynbyington1516 I raised two kids on at the time SSi of $500 a month,$129.00 in snap and a housing subsidy and even then I was a coin saver….. now hud only takes 30% of your income I lived on it 15 years people living like the working class but we can’t.. we will all have emergencies .. now we have been warned of possible future cuts we don’t know yet they don’t know either..but it’s a warning save something starting now … put $2 a month in a mason jar and your coins start Now.. we were living on benefits before the pandemic so we just have to adjust our spending and that’s that..
Not true many Grandparents are raising grand children. Go to any t ball games and sports for minors you will be shocked at who has grand chldren.
They did that themselves so they need to support them.
WE AREN'T responsible for OUR grandkids. FACT. THEY need US to raise them then THEY can contribute to paying US child support.
Take money from the green deal . Students loan pay off . And E V money. The money is there . Take it .
They got student loans they need to pay for them. Nobody's paying my credit cards. I have to pay for them or file bankruptcy. 😮
Inflation is not subsiding
On the news we saw a school bus driver who is 94 years old. Mentally he seems pretty good but 94 and still working in the US. That’s wrong in so many ways. He said he worked his entire life.
That's WRONG. We shouldn't have to work untill the day we die of old age.
Even homeless people can't live on Social Security retirement
SS benefits were never intended to provide everything for retired people. If you look at the SSA's web site, they have been explaining this for the last 60+ years: SS benefits are
a "supplement" that enhances your savings and pension / retirement plan. They speak of the "3-legged stool", with SS benefits, savings, and pensions as the 3 legs. Despite
their best efforts to explain this, way too many people get near retirement or already in it before they get it that THEY are responsible for 2/3 of what they need to have in
retirement. Yet people continue to approach retirement with very little in savings and a small pension at best. I'm not sure what the US Gov could do to change this. Some
people plan for retirement while others basically ignore it until it is too late to do much about it. A long time ago, I read a quote that really opened my eyes about retirement
planning. It read, "He (or she) who fails to plan, plans to fail." I took that quote to heart, especially as it applies to retirement and planning for it. Sadly, all too many do not.
It costs money to be homeless. You can't pee like a normal person unless you pay for something to use the bathroom. Thank you very much to all the dope heads.
RETIREES ARE IN TROUBLE, Fact: The first recipient of a social security check was in 1940. This person paid into the system for only 2 years and paid in a total of less than $25. She lived until 1975. In other words collected benefits for 35 years. 2 yrs of work and 35 yrs of leisure. It doesn't take a CPA to figure out this won't work. This program was absolutely doomed from the start!
The only thing retirees can do is move to a cheeper country. Thats what I'm doing.
Good choice. Doing the same.
Only downside is Medicare won't pay for medical costs in foreign countries, wish they'd change that. However, medical care is usually much cheaper in other countries and you will likely still be better off.
It's all BS, give the seniors less, give Ukraine more.
the reality is that total dependance on ss is a huge mistake. over 65% of americans cannot cover a $1000 emergency. The lack of financial discipline is the elephant in the room no cares to address.
Don’t blame Government for your shortcomings.
@@Satjr35031 I’m sorry, but government is the problem. They take and they take and they take and they don’t give back!
They took mine away retirement check last week😂
@@pamelamallory3922 Please explain who took it away
Our government is raking us in😢😢😢😢😢
This civilization is so screwed
Democrats, really have been Slapping Us in the Face...No help to Seniors at all.
It always does in July, August and September, convenientl, heh......that's the months they calculate COLA from!!!
Better get my money that they took out of my check or there gonna be some real problems
My check went down 29.00 one month, but this mo. Normal. Why?
There's always offers to sign up for a Grocery card ( says everyone is qualified if your in ss) enter your zip code..... I did.....Try again in October.
So that's false.... I get denied all the time.....
The COLA needs to be frozen on all government entitlements until inflation comes down
below 2%. This will be the quickest way to get a handle on inflation. This would go a long
way to at least pay the interest on the National Debt.
Many retirees scream for joy when they hear that the COLA increase is comming. Fools,do some simple math and see what it works out to be. It's a carrot at the end of a stick. We are screwed no matter what. Bless y'all.
Food utilities gas still up.
I can tell you 😢what is happening for seniors 🎉 nothing
Foods, home repairs (winds storms blew the roof of my garage) and maintenance, lawn care, appliance replacement, cleanings supplies, taking care of animals if you have one. I'm lucky to live within my means most of the time.
I recently looked into moving to Sadelia, MO closing to my kids and it's extremely hard or nearly impossible. For a home that needed a need central air unit and new flooring, and refrigerator, I needed $36,000 for closing and down payment interest rate was almost doubled from 5 years ago. I better be still and be grateful, because I have a new roof now. Im good🧡
When I retired in 2022 , I had over 13,000 and now I’m at under 2000. In my checking.. Not happy!
Look at your own spending patterns.
@WangOChon IKR, Quite simple concept, If there's side things you could afford while working but can't when not working, Well, decisions need to be made...Also SS informs recipients how much they can earn BEFORE they deduct. AND once they hit their FRA, They can earn all they want...Time to get back into the work force AND eliminate extras from the budget.
@@gramgram2329 that $13,000 is a lot of money in another country that's the funny thing about it and still collecting Social Security you'll do all right if you leave the United States
It don't matter what you spend they just jack everything up. It's all a scam because they keep over 99% tied to the fake fiat money system that they created. Freedom from it all is One Thought, One Action Away but the majority don't see it. It's so simple just get out of the money system, stop participating in there system. I was once a slave but I opted out of there system. If others did it to they would be free.
@@winniethepoohandeeyore2let's hope shit happens to you and you have to work disabled or not.
I say class action lawsuit against this government
At 81 I must continue to work, and pray each day that the government does not move our social security money to the general fund so that they can give more money to other countries....
Inflation is our biggest enemy
Same thing every year every year!!!!!
Seniors need CPI-E to calculate cola for seniors. Medicare premium goes up yearly. Seniors really need this.
We never had credit debt, never lived beyond our means., husband was a truck driver for 40 years and we saved and we are going through our savings. He just retired, his health is not good and
As long as I'm receiving Social Security benefits I'm good. Any cost of living adjustment is good.
It's NOT a Cost of Living Adjustment, they don't figure the raise by anything that a living costs! So the estimates, and cola raises are bogus.
There wouldn't be so much problem with Social Security and be able to help the low income people and homeless and veterans make everyone pay their taxes like everyone else and you would have money and also don't give all money away to migrate and sending money to the war you the President and Congress needs to help the American people we don't have money for them so get the border wall closed
They don't work for us, they are paid by the rich donors.
Fired Income😢😢😢SO SAD AMERICA,SOME GOT Billions not paying taxes...
What I see is that I worked and had all of my credits reported all of my earnings and unfortunately when my mother passed away as well as my dad passed away there was nothing no 250 no nothing, if my mother hadn't been able to at the tail and receive what she should have been getting all along from The railroad retirement board and veterans widow's benefits I literally would not have been able to bury her how many millions of people out there are like that and are petrified and scared some have no one and some have those who they wish would wake up from their dream when you receive assistance they are literally are not supposed to tell you that they take 10% of your social security every check you get when worker accidentally didn't know that they weren't supposed to say that, well when they say the average retiree receives 1900 that must be in another galaxy because it certainly not this one I was getting at least 300 now they're taking 154 out of that so maybe I'll be able to each month enjoy a good meal and some milk coffee and bread
I receive a combined SS and a local European version of that. I don't get the full SS amount as it was reduced by some $300 per month several years ago since I was combining it with my EU version. If I were to return to LA today, I would be living in a tent on the streets with money in my pocket to eat well. Where I live in Europe as one in retirement for the past 5 years, I have a nice small apartment with a balcony, in a quiet area, about 300m to the forest, can go on vacation, as well as save ca. 25% of my monthly retirement benefits. Not to forget, full medical coverage as well, prescription drugs at a cost of €7.10 per drug no matter what the official cost for the drug is. Been living in Europe for 30+ years. Have now lived on 4 continents in 6 countries and on an island.
Prices Never go down longterm.
Thankfully I'm not dependent on social security I'm retired at 56 Paid my dues for 30 years No debt Ultimate freedom I have essentials to pay Self sufficient A budget is a must Thank U for keeping us informed on these important matters
I worked 50 years for my SSI retirement. Biden has SPENT SO MUCH that now my SSI is in jeopardy. FJB
why is it we the poor always get the shaft
And they get the goldmine…
Thanks for sharing this information!
Some come out of retirement at 67 because you can earn more without being penalized. The Government doesn’t want you to earn more than $22,000 from 62-67. Probably more advantages to getting Obamacare as cheap as possible anyways. Guess we can apply for Medicare at 65. No benefit to earn to much. Live on the cheap…Uncle Sam wants it that way. Thanks for your videos.
The year of your FRA you can earn this year $59,000 once you reach FRA as much as you want
Figures don’t lie but liars figure!!🇺🇸🐻
Food hasn’t gone down, we are going to have a Great Depression and live in tent city!!
No one ever talks about why they are giving social security to people who never paid into it. This includes undocumented immigrants as well as people who claim to be disabled but only when it concerns getting a job.
If I could walk 🚶♂️ and see i would have not stopped working iam 72 nothing wrong with my brain
I had to go on SSDI at age 61 due to a work injury. I agree with you. If I could work I would.
@@charleswatkins9554 We should quit balancing our national budgets on the backs of retirees depending on a fixed income like Social Security. Instead we should cut the salaries of all members of the Senate and Congress. Also no more foreign aid to other countries. Our politicians are a bunch of thieves and liars who steal our tax dollars for their own personal gain. It’s not their money to give to other countries at our expense. Most of them belong in federal prison. If we did as private citizens. We would spend half our lives in prison? If they would repay what they have stolen from the Social Security Trust fund over the past 60 years. The trust fund would remain solvent for the next century and possibly beyond? If Congress and the Senate ever decide to gut and abolish Social Security? We should remember to vote out the key Politicans behind such action. Plus get a ballot measure on the national ballot to strip of their government Retirement benefits. The apply term limits and force them to go out and get a real job,where they have to save for their own retirement like most of us.
@@charleswatkins9554 They should change how the Cola is calculated to reflect the real cost of living including inflation? Some years we get zero Cola raise,but our Medicare premiums and everything else like Rent and food and other essentials. Like the minimum wage law. There should be at least a 5% minimum Cola raise each year. I’m disappointed in FDR for not writing the SS bill much better to make our trust hands off and off limits from being tapped into for other uses,by politicians. The contributions we make in FIACA taxes is our money and. Should be untouchable for use other then paying out benefits. Politicians and Diapers should be changed often and for the same reason. Mark Twain most of them are full of shit.
If Ever the Multi-
Millionaire and Billionaires, 8g Corporations Pay their Fair Share of Taxes, Cut down some of the Social Services to Illegal Immigrants and that's coming from Every Direction, Stop Paying Congress for Weeks Off and their Lifelong Medical, ect. Start making Able people on Welfare Work.
I was Physically Disabled in my 40s so over half of my Working yrs was over. My SS is well below the Poverty Level here in California. Living in the Rural Mountains with No Transportarion is Rough but i was taught how to be very Conservative,Budget. Paying $6 for a Lb of Butter. $6 for a lb of Ground Beef same for Hot Dogs, $5 for a head of Lettuce. It's Feaking Rough!
There are 2 things which indicates that the prices will only rise. 1. The National debt which can be only paid through taxes. 2. Reduction of reserve currency status.
If they let you invest your own money instead of taking it from you over your lifetime it would be 1.9 million for the advantage person 😊 they f you they f you😅😅😅
No where near that amount
That's lies prices are not going down..🤦🏿♀️
Thank you. You get right to the point .
I was forced to retire several years ago. My private retirement money was stolen after about the time if my forced retirement, all that I have to survive on is social security. The maximum unemployment is roughly $3,700 a month, my monthly social security benefits are less than half that amount ! Something is drastically wrong with this country ! I don't know where these statics are coming from because the cost of living has increased 315% since January 1st to present day ! I cannot afford to go to the doctor or afford medication that I need ! I have had 9 heart attacks, how am I supposed to go back to work ?
My auto and home owners insurance has increased by 16 percent in the past 2 years without any claims or coverage request .Groceries across the board has increased app 5-7 percent in the past 12 months . Utilities averages out at 4 percent increase in last 12 months. What must be done and should have been done from day 1 is to follow a new basis and formula and be realistic in arriving at an annual COLA. I’m from the Midwest and located in the country . Check the data out ! Thanks!