Forecast: The 2024 Social Security COLA
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- Опубліковано 9 сер 2023
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I don't understand why you have to downsize your lifestyle to the bare minimum just because you are retired. I have always maintained that retirees who struggle to meet their basic needs are the ones who did not invest in the right place. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad depended on pension fund to handle her retirement. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.
This is true. I'm in my mid 50'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 $21k passively 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
SONYA LEE MITCHELL is the manager I use. Just research the name. You'd find necessary details to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
They need to do something about the Medicare part B premium so we can keep more of the SS check to help meet these higher expenses
Medicare has only increased by $60 over the last ten years
Look into a Medicare advantage plan. Plans vary by state and county but in Florida I am on Optimum a Medicare advantage plan that takes nothing out of my SSI check.
@@Satjr35031 I heard that it may go up fifteen dollars a month next year..179.80
You can apply for help paying for Medicare part b through mich.gov
Yeah, I HATE that I’m so RICH I’m required to pay EXTRA for Part B.
The increase in the cost of living has risen at least 10% for all Americans. Food, gas, housing, and utilities have gone up 20%.
Food and housing has gone up over 30% in most areas. How sad that the Democrats passed the “Inflation Reduction Act” to spend another $1T that had nothing to do with inflation. They boldly lied to us knowing it was a climate change bill.
Well, I'm retired, and I don't use much gas since I don't commute, and I need to be eating less and eating better anyway.
So professionals study this stuff down to the penny…we can see exactly where these (their) numbers come from. Where do you get 20% or 10%? I don’t think you’re an actual economist.
You don’t have to be an economist to know the price of goods you have purchased for over 30 years. For over thirty years groceries went up minimally. I paid for many things the same price in 88 as in 2020. Inflation on groceries the past two years has been on average at least 40% and clearly more than the previous 32 years combined. Gas has a todays pump price here gone up 80% since 2020. You pay the monthly bills and the yearly bills and the spike is obvious and much more than what economists want to make out. My sons rent popped 50%. Not seen anything like this in my lifetime. I read about the late 70s into early 80s and wonder how this compares. I don’t want to hear an economist but from those who lived through both. As a kid I do remember the gas lines but not paying the bills I can’t speak to the late 70s and how it compares.
@@robertstrong729 The 70s and 8os were wonderful. A new full size loaded Mercury Montego cost under 4ooo. My first 18oo Sq ft bungalow cost 20,000 in 1976. Gasoline was .30. Cigarettes were .35 per pack. I made 10.00 per hour and had more buying power. Cigarettes are now 10.00 gas is 4.oo and a new bungalow in a safe city costs 210,000. A new car costs 60,000. The government wants us to think we are the problem. They tell us if we earn a decent living then inflation will destroy us. The truth is if working people made enough money to live comfortably they would keep that money circulating. If the cash flow was good there would be no inflation necessary. The greedy want you to work for 10.00 per hr. While prices have risen 15 fold. My family of 9 spends 2500 for groceries each month. I am 68 and living on SS and small pension. I NEED a job.
I am a SS recipient who lives below the poverty level and far worse off this year than in previous years, primarily due to today's cost of groceries and my gas and electric bills, which have more than doubled since 2022, while each and every month, groceries and utilities are higher than the previous month. Twenty-five hundred dollars a month should be the absolute minimum for all SS recipients. Working for 45 years and educating two daughters, and to end up living in poverty is sickening. Illegal immigrants do far better and so do people on welfare.
did you start social security at 62?
People on welfare get even less than SSI, if that’s what you’re getting which is $914.
From what I have seen people on welfare are able to work. And illegal immigrants should be sent back where they came from. My granny said charity starts at home and spreads aboard.
Thank the people who voted these idiot into office. SMH
If you paid into the SS system for 45 years you’re receiving much more than 2500.00 per month. You’d be at the maximum which is 3650.00/month retiring at age 65 and 4650.00/month at age 70. The absolute LOWEST you receive after paying into the SS roles is if you retire at age 62 and that is 2550.00/month. So no matter when you retired you’re receiving more that the minimum you stated.
Has a senior it is hard to believe that the cost of living is not gone higher than that. Things like food, housing, and insurance are the main things that I've seen increase dramatically
INSURANCE IS SKY HIGH WHAT IS SLEEPY JOSO DOING ABOUT IT NOTHING
@@milebarbir6859 No Kidding! Just got my auto renewal and it's up 19% (even with all the "good driver discounts"). Looking around for quotes and they are even worse. On the flip side home insurance only went up 3.5%.
@@milebarbir6859most insurance companies are regulated by the states that they operate in.
I agree. In fact, I received my homeowner insurance renewal yesterday and it had a 51% increase over last year's policy!!! WTH!
They are blatantly lying. Real inflation is obviously above 5%. 2.7% is absolutely ridiculous. CPI just went up 3.2% for July!!
Yes, this should be higher. All costs of necessities... insurance, food, gas, etc. continue to go up, up ,up.
I looked at your channel yesterday. Thanks for the update and take care.
Much the same way as commodity markets are manipulated, the government will always misrepresent the real rate of inflation to make failed economic policies look less disastrous than they really are! I just saw several items on my regular grocery shopping list increase by 5-10% over last week! Hard to believe I paid so much into the system to be so screwed in retirement!
The question is how much of an increase is there going to be in Medicare?? chances are it will outpace whatever increase in Social Security that’s given.
Uncle Sam gives with one hand and takes it back with two.
YES! So true and if you decline medicare you pay a penalty? Plus you need supplements to really benefit from it. Still can't understand the logic, guess that's the point😏
They’re saying it will be 3.1% right now, for next year. Crazy stuff if you ask me!
the only figure Ive heard is going up fifteen dollars...to 179.80
I truly believe it should be higher. It's already hard to survive on what they feel like giving us. Thanks alot for keeping us up to date.
It's not about what you need to survive, its about what the rate of inflation is. However, I do concur that the increase should be closer to 5% based on the consecutive higher cost of many ordinary items.
SS was not supposed to be your sole source of income in retirement, rather a basic safety net. I admit that I did not save as aggressively as I could of, and that is why I live abroad. My SS payment and my income investments in my IRA give me enough to live comfortable in the developing world. Luckily for me I wanted to do that anyways long before I retired. However, more attention to my investments would have made things easier and allowed me more options.
Doesn’t really matter how much the increase is, because it will be swallowed up by increased Medicare costs guaranteed !
I’m used to this % as I was a teacher. That career got me ready to live on a budget.
Did you work during your summer recess?
Yes.
The entire public school system is unconstitutional and therefore illegal. Make parents responsible for their own children's education. It's nothing more than taxpayers funding daycare.
Mr.Carroll thank you so much for ur dedication and insight...u r so appreciated!!!
You are very welcome
Glad you're back. I see so much misinformation about social security in the comments sections on other boards. I can see that you still have your work cut out for you.
That is crazy. It should be higher!! NOTHING has gone down in cost. It's gone up.
I would like to see any one of them in Congress who decides our fate like this try to live on what we do. The cost of living is higher than 2.7%. even the jump my husband had in his SS at 8.7% was not enough. Broken promises again by the big guy of $200 extra. Oh wait, we'll probably see that just before the election to make himself look good and say look what I did. In the meantime, we struggle from day-to-day to buy food or medicine. Not to mention the cost of gasoline to get to the pharmacy or the grocery store. $2.25 for a can of beets at our closest grocery store...
Correct in including Congress in your comment. For the most part, they are out for themselves, their personal gain and their ego stroking. However, regarding "him", if one does their homework, one would clearly see that President Biden is not solely to blame. It is easy to just pass find the most visible scapegoat and thus blame the President if one doesn't bother to study the multi-faceted facts of a very complex issue at play here.
@@artistmm3427it really is not that complex, if you are dependent on the government then you should be thankful for the pittance they allow you to have.
You nailed it ...jotanner
@@artistmm3427
Probably a trumpeter I seem to remember a below 1% cola during his regime it's the way cola is calculated that's at fault cola means cost of living adjustment but they lump everything together if houses go down they say well the cola is lower and ignore the cost of food gas medicine etc
They should base it on the actual increase of things that we buy weekly not a house that you buy maybe once or twice
I willl never believe any politician again. ALL are out for their own self interests. Seems we need to start from scratch with real human beings. Just sayin.
Yes.... it should be higher. I predicted over a year ago, 3.0% COLA for Y2024.
NOW, that I've seen how inflation has affected my life.... THIS YEAR...
It really ought to be a COLA of 4.5 to 5 %. It's been a rough year!
My home has been paid for for over 10 years, but just this year my Home appraisal went way up about 20%, so in turn my real estate taxes followed with about the same 20%, so since my home is now worth more, my home owners insurance followed accordingly, and my power bill also went up, grocery’s are almost double from what they were a year ago, gas is now bumping $4.00 a gal, and Im trying to pay everything with a SS check and a small 401K that is in the toilet since a certain guy took up occupancy in the White House. Now I’m supposed to applaud a 2.8% cola. sigh.
My value has gone up 10% every year for the past 5 or more years. House has been paid for since 2000. City, schools and county just spend and spend and we have worse service for more money.
DOW was 28,000 when Trump lost, it's at 35,000 today... stock market is doing much better under Biden, than Trump
Sooooo sad and WRONG!let's see if they raise Medicare!ugh
It stinks that they calculate from a time where ppl are spending because of vacations and back to school expenses!!!!!!!!!!!!!!!!!!!!!
My property tax goes up about 3% every year. Just got a 7% increase in assessment. Two years ago a 16% increase.
We need term limits, let politicians buy their own health ins. And live off SS like us common folks. 😊
Exactly 💯 % Laurie. Politicians need to buy their own health insurance and live off SS like the rest of Main street -- then and only then will they have a glimmer of understanding how expensive basic necessities are and thus how difficult it is to survive on a SS monthly check. In a rich country like the usa, it is a disgrace how seniors are treated.😢
They do pay for their insurance
Kinda strange the way COLA for Social Security is calculated. It is even stranger the things that are not considered that truly effects the seniors budget directly. And for the record, most of us are trying to live a full 12 months out of any year and winter time can be the most costly season of all.
I never wanted my grandparents or parents to be treated like this. Come to think about it, I don't like it for myself either.
They GAVE you SIX DECADES WARNING!!!!!!!
My guess is that you have not lived through those six decades. Corporations were allowed to do the unthinkable during that time.
1) A one person income could no longer support a family
2) Health Insurance was no longer paid by many Companies
3) Pension plans were taken off the table and done away with
4) In the name of greed and corporate profits the worker lost
So people do depend on Social Security far more then they every wanted to through no fault of their own.
@@traybern
I'm always glad to be a subscriber. Thank you Devin.
It would seem appropriate to get at least a 10% increase.
With the cost of living has increased so drastically 2.7% is like a slap in the face I have been living on SS disability until my retirement and through the years my income is still low. Going through 2 bouts of cancer it is hard trying to live a decent life with my income.
They ought to round it up to the next whole number.
We should get the cola from last year 8.7 + 2.7 from this year.=11.3. Wishful thinking!
A lot of things are up 20-30% over the past three years. This years and next years COLA will probably come to a combined 12%! That’s not even half of it!
The COLA should be no less than 10% increase EVERY year!
And no taxes on SSI,SSDI.or on VADI!
And NO state taxes on any kind no matter what state it is!!!!
Dennis from Delaware U.S.A
Thank you Devin so much for keeping us up to par. I enjoy hearing you speak
Thanks for watching!
We're disabled and elderly our costs are higher than the average person, COLA should adjust accordingly.❤
Thank you for the update. Your 2.7% estimate for 2024 sounds about right to me.
They have to support the 7 + Million Border Invaders first.
Please mention social security for widows. That spent their last year's taking care their ill spouse only able to work part time.
the survivor benefit means that the larger check is awarded to the surviving spouse
@@88888gerald thank you for that information, my spouse didn't earn enough credits. Some widows fall in the loop holes. Really the government needs to stop raising prices.
Duh??? GO back to FULL time now!!!
Corporations are making record profits this year, after making record profits last year. Billions of dollars a year. Corporate greed is what is causing prices to go up.
Everyone that owns stock or a mutual fund gains when companies make money. That is how capitalism works. Our country would be in far worse shape if all of the companies were losing money. Just look at our federal government as an example, it does not have a goal to make money and thus it has no reason to be efficient, it fails at nearly everything it touches.
Social Security is not a corporate program. Maybe with a little foresight, you would have invested in some of those greedy companies & you'd be making some income now.
Yes it should be higher. An example.......I used to get plain saline solution in a two cup bottle for 3 dollars. Last me about 3 months. This is for dry eyes. Now I have to buy systane eye drops because it is preservative free. The amount I get is 60 vials with 0.7 ml each. That is not 2 cups. That is less. Guess how much that costs?
OVER 30 DOLLARS.......and it lasts about a month.
So you tell me how am I supposed to live a simple but comfortable life while I grow older when money is so unstable and people treat older people like crap!
MAKE your OWN!!!! It’s WATER, and SALT!!!!
Yes, I have been hearing that it should be around 2 1/2 percent to 3 percent. Sounds about right. Those cheap scapes!
My rent increased in June of 2023 by over 5%
You have got to be kidding me.
I guess we seniors are going to be cheated again on the COLA of
2024. My poor brother on SSI is
clinging to life below the poverty line. The only way he can survive
Is by living with me - pooling our money to rent & share a one-bedroom apt in the Midwest.
My below average Social Security keeps me just at the poverty line. I lost 10 yrs of earnings due to 6 lay-offs during my life-time. Also, I was cheated out of my pension at the University of Calif, Irvine by being terminated a mere 5 months before being vested in the pension. The yr before I was promoted for doing such a good job & re-classified as performing above my job classification..
I'm drawing partial social work part-time, and I still barely can survive. My rent takes up basically all my work check, and my partial social security check is spent on utilities, transportation, food, and all other necessities. So what is left? Basically nothing the cost of living goes up higher and higher each week.
2.7 percent is an insult to those of us who worked all our lives. My benefits don't even amount to what I netted 40 years ago. Oh but the government is so eager to support those who never paid into the system. What a joke.
Your SS benefit is ONLY SUPPOSED to replace 35% - 40% of your ending wages. The REST is up to YOU. So YOU…..have SCREWED UP, for 45 YEARS!!! THAT was DUMB!!!!
@@traybern you are most likely one of those fortunate enough who never had to do without anything and was indulged by your parents. I went to Fairfax County schools and am not dumb.
@@stephaniemccord6100 I WORKED for 41 years. EARNED EVERYTHING I have. Paid MY OWN WAY through college.
Thanks for the update!
Glad to help!
It's a shame that our government wastes money by the billions and the hard-working people who have paid into this all their lives get little to nothing. Almost like they feel we will get what they want to give us. Something needs to change drastically.
It definitely needs to be much higher!!! Florida has higher inflation than any other state from what I am hearing and from what I personally see going on here!!!
But you have no state income tax. But I try to tell people that they get your money one way or another.
@@youngtimer964 No state tax is nice but it doesn’t make up for the outrageous housing expenses! I could live much more affordable out of state but been here most of my life and don’t want to move away from my adult children and grandchildren!
Thank you❤Devin❤God bless you❤
Thank you..I'm a widow need more increases in social security food higher,cable,electric etc. Thanks for your input..it has to go up again in 2024!!!
Hi, Should I out live my spouse, I will loose that additional income from my husband's SS and his retirement will be cut by 1/3rd. I'm continuing to work to get delayed social security, but most likely I will have to tap into our savings which is the way that SS was designed.
STILL spending a lot to feed your dead spouse???
Wow! That’s Great. Only 6% less than last year. I might see about $50.00 more a month, but I’m sure there will be an increase in Medicare and taxes to off set the increase. 😂
Medicare WENT DOWN for 2023, DUMBBELL!!!
I always enjoy your insight and videos, keep it coming.. Yes, to higher.
Social security is my only source of income. I spend more on groceries this year and have less food. My insurance has gone up my utilities have gone up gas is going up again. The only thing that has not increased - yet - is my rent. How can they determine such a low cost of living raise when we weren't getting enough to begin with.
Thank you for sharing the valuable information.
It should be across all months. Added together and divided by 12. Thats the actual cost.
It IS across ALL MONTHS!! The July / August / September numbers are for YEAR-ENDING in July, YEAR-ENDING in August, and YEAR-ENDING in September. This A$$HOLE TRIES to imply that ONLY 3 months count.
How does this projection project when the SS trust fund run out.
My husband and I found your channel looking for information about making over the limit for the year. We found a video that was very helpful so hoping you would help us. If someone makes over the limit for the year , enough to affect the February check, do they hold out that partial amount out of the February check or the entire check? Thank you for your help You have some great videos.
They held my payments out monthly. I went to SS and they set it all up.
@@gingersalmons2314 Okay thank you That helps!
This antiquated process of determining social security needs to be replaced. There are seniors that have no savings, and now are rationing meals and medicene to make their basic bills.This cannot go on and pushed aside by our government officials.
We got screwed during all the inflation of 2022 and this years first half. 2.7 will not cover the first half of year. The number should be based on 12 months not 3 especially in this situation.
You clearly do not understand
It's based on 12 moths because they compare current prices to prices 12 months ago
EACH of those July/ Aug/ Sept numbers are YEAR-END figures!!!! ALL months COUNT!!!
@@kf1000 Absolutely NO bugs are involved!!!
I think everyone would agree higher.
It's a shame especially for retirees who've worked to maintain the system.
2.7% increase is a slap in the face with the real cost of living increases but not surprised with the direction that this country is headed in!!
Economics is so hard for some of you to comprehend.
Please help us understand how higher cost of living is hard to understand.
Well Devin, i finally pulled the trigger and retired. First i waited till when i thought the time was right for me. At 63.5 yrs of age a few things fell in place and the dust settled with what i'll clear up here. #1 paid of my mortgage. #2 my divorce went final. #3 i fell just short of earnings income $21,240 on the year. For 5/31/2023. #4 processed my Daughters CRBA US status to file her Social Security after my own #5 Divorce stated each party would keep their own retirements giving up rights to the others with my quick claim deed to property. And no child support issues. Thats it.
That is nothing to be proud my boy .
Quit-claim isn't it?
@@misha-elministries5246
2.7% it will be $2.70 for every $100.00 on what everybody's is getting in theirs disability and social security and as for me right now I'm getting $505.00 I'm just going to get $15.00 or $16.00 increase in the cost of living adjustment period
I haven’t noticed anything that’s had a
Fyi... Just this year, my homeowner's insurance increased by $880.00 and all utilities are up even with us lowering the temp in the winter (we cover up with blankets) and in the summer (take some clothes off) we keep temp at 78 & 79. City utilities are up this year also. Gasoline prices are up from this time last year.
GASOLINE is WAY DOWN compared to 2022, DUMBA$$!!!!
That seems low to me. Everything keeps going up, weekly in many cases.
I'm living on SS (exhausted other resources) and it's likely I won't be able to pay my property tax or FIT.... a 2.6% increase just won't cut it. Prices have gone up so much more than that. Should I eat or pay my taxes?
Hi Devin, if we're living on SS only, do we get taxed? It's my first year and when January rolls around I don't how to file quite honestly.
If your only income is SS you will not own any federal income tax, and most states do not tax SS.
@@bradk7653 you shouldnt owe any either...
Is the cola figured on the total amount of your ss check before or after they deduct your part b medicare premium?
Before the deduction for Medicare
@@Awcrap56 Thank you
Fast approaching 6.4 decades 😳 and I am ready for my retirement. Curious to find out how much I will be getting per month. The amount of my earnings taxed while earning. Then at the tax time, I pay a tax again. While life is still going on, and Lord knows that!! The cost of living is a Big Fat Rip-off. Right off the bat. Our social security number was not meant to be used for 🪪🆔 nor was it supposed to be taxed. The elderly as it's put and the single people , no children are in my opinion are getting the shaft. I am subscribing to your channel.
Consider going on-line and opening up your own Social Security account then you will be able to download "YOUR" Social Security Statement to see what you will be getting. This will help you in your decision as to when you decide to retire. Good Luck!
Do you know how the taxation on SS works ? If you have say $30;000 in SS No other income streams after you retire then your Federal tax will be $0
@@Satjr35031agreed, but if you did save on your own and thus have other income the tax on your SS is repressive. It can push you into a marginal tax rate of over 45%, yet Joe Biden and Hunter would only ever pay a rate of 39.6% on their “earnings” from China (but we already know Hunter did not even pay his taxes).
Devin - any projection on what the 2022 AWI is going to be? I know earlier in the year the Trustees Report estimated something like 6.5%, then they later dropped it to 4.8%, but I haven’t found any other update or estimate for about the last 6 months.
2022? You’re YEARS LATE, DUMBBELL!!!
Yes I think this should most certainly be higher as Social Security is taxed! And I know my cost of living is just on an upward spiral.
I have always thought it odd SS is taxed since money already came out of my pay check for all those years and was a tax then. Government has no problem with double taxation.
Geez! It is difficult for seniors to even eat these days. 😰🇺🇸
That would translate to about $16.00 in my check. WOW!!
There is never enough ☹God be with us❤
The Seniors need more than 3% The American Retiree Association has a petition out there on line to Sign to request a higher Benefit
GET a JOB!!!!
My understanding is that a percentage has already been forcast for 2024. I read somewhere just the other day that the monthly Medicare premiums will go back up and increase to something on the order of $174.50 more or less per month. Also the monthly COLA increase would be in the neighborhood of a 1.3% increase.
COLA in the range of 3.2% Medicare around the $172 mark
I read that medicare would be up about fifteen dollars to 179.80
@@88888gerald 9% seems a little high I figure more around 5%
Congress should get the same increases we get. I wonder how fast that would change ???
1st ! STILL FREE IN TENNESSEE
Well I’m in Tennessee but I’m reasonably priced lol
It should be alot higher! My monthly costs have gone way up!
Cost of living goes up 8 percent and SsI only gives you 2.7 percent. I would like to see you live on $1074.00 a month.
That's rough. At what age did you retire?
I have a family member that doesn't make much more that you, but it is his own fault. He was self-employeed and made sure he didn't report much income so he wouldn't have to pay taxes all these years. Now he gets very little money for the rest of his life.
Our crazy North Dakota heat bills are never reflected in Aug, Sept and Oct. 👵
Don’t you guys use wood heat in houses?
Welcome back
Thanks! Hope to get back the regular schedule soon.
2.7% sounds about right, but with unemployment low and inflation easing, that number may be too high unless fuel prices don't ease. I think that is the final determining factor.
I could never understand why Social Security will be taxed in retirement?
I thought SS is not taxed!
I'm guessing it's because the FICA taxes were deducted from paychecks before your income was taxed. Your income tax was based on your pay after the FICA was deducted. Just a guess.
@@caffiend.Income Taxes are based on GROSS EARNINGS.
@markgosser9578 Social Security is taxed mostly at the federal level based in the 1983 and 1993 income provisions. In most instances only a portion gets taxed based on a provisional income calculation but some people with low income might not pay anything.
It's because of Greedy tax and spend LLCD politicians and yes there are RINOS included in the LLCD
The Alliance for Retirees has a petition on line to sign about the cost of living increase
I'll gladly sign it Suzanne. Congress is a joke; the members are only out to get as much money out of the system for THEMSELVES ONLY. It's a shame and disgrace that the USA SS system is so convoluted and only to benefit the rich.
WHY are the millionaires and billionaires collecting SS? No wonder the system is losing money and will end up being unsustainable. There should be an income limit to qualify for SS so millionaires and billionaires and also salaries over $350K should NOT receive SS payments.
At 64 still working, not collecting social security yet as I love my job. No mortgage, no bills, 600k in IRA Account and as of now if I start collecting in January of 2024 my social security before insurance will be $2,700 a month. So I am set. But with that being said I feel for so many others who are not in great shape financially. From housing, utilities, insurance, to the cost of goods is higher than ever. 2.7% is a slap in the face to seniors,
Your doing Great , but you forgot one essential thing (Jesus Christ) Let me give you a wise parable . And Jesus told a parable to them, saying, “The land of a certain rich man yielded an abundant harvest. And he reasoned to himself, saying, ‘What should I do? For I do not have anywhere I can gather in my crops.’ And he said, ‘I will do this: I will tear down my barns and build larger ones, and I will gather in there all my grain and possessions. And I will say to my soul, “Soul, you have many possessions stored up for many years. Relax, eat, drink, celebrate!”’ But God said to him, ‘Fool! This night your life is demanded from you, and the things which you have prepared-whose will they be?’ So is the one who stores up treasure for himself, and who is not rich toward God!”
@@misha-elministries5246 😂😅🤣😂🤣😅 I read better fiction than that.
@@marysvara5017 Proverbs 9:13-18 The Message (MSG)
Then there’s this other woman, Madame Prostitute- brazen, empty-headed, frivolous. She sits on the front porch of her house on Main Street, And as people walk by minding their own business, calls out, “Are you confused about life, don’t know what’s going on? Steal off with me, I’ll show you a good time! No one will ever know-I’ll give you the time of your life.” But they don’t know about all the skeletons in her closet, that all her guests end up in hell.
I'm 37 house paid for, I don't pay medical or dental. I don't have to pay property taxes I get 3200 a month ss.
Yes you have been MIA. All others are telling everyone we are all getting extra SS checks. I think they are trolling for notes but what is your thoughts?
There's nothing that'll get views like "Extra Social Security Check Soon" or one of my favorites "5th Stimulus Just Announced" 😂
Yes and it is a good way to get votes.
I feel that projected 2.7% should be added to what we got last year at 8.7%, for a total of 11.4% as the new COLA. I feel this would more accurately reflect the current cost of living and get SS and other compensations more in line with today’s costs. 2.7% seems very low any way you cut it, but any increase is better than zero.Thanks for the update. 👍
@chieftd9340: If I am not mistaken, we only got 3.9% last year.
I just checked this out and you are correct; it was an 8.7% COLA increase starting January 2023.
11.4% would be great but it is not going to happen, but Ukraine will definitively get billions, so will Afghanistan. The POS president that we have right now is rewarding
Afghanistan, controlled by Taliban murderers and violators of human rights, for his botched withdrawal of our American soldiers and killing of 13 of our American soldiers, one of them being from my hometown of Laredo, Texas, a bordertown with Nuevo Laredo, Tamaulipas, México, and through which countless illegals are coming in. Biden has sure shown what he thinks of the American people, nothing.
All I can say is that if it continues like that everything will be a chaos, bye bye America's dream, bye bye land of the freedom 😮😢
How did you come up with that math? Yes, it's not enough of an increase, but the problem is how it's calculated. You calculations are more like wishful thinking.
@@clintfalk no special math, the new estimate is 2.7% and last year was 8.7%. Of course it’s wishful thinking, just giving my opinion that the next cola needs to be way more than 2.7%. Oh well, I’ll take what ever we get going into retirement. 👍
That's exactly how it works. Example: 2022 someone's benefit was $1,000 and the increase for 2022 is 8.7% or $87.00
New benefit for 2023 is $1,087.00 , If the increase for 2024 is 2.7% or $29.35 which = 1.116.35 which is 11.635% more than the 2022 benefit.
COLA’s do not reflect the actual rise in costs.
I'll admit, prices do seem higher than the 'official' numbers suggest.
Yeah, total meet up creative American accounting. I don’t wear other people are living but here in the bay area the idea of it costs of going up only 2.7% since last year is a joke it’s probably more like 27%.
Yes, the income of seniors should be raised to get them all out of poverty. Biden promised to raise the SS, SSI, and all other income for seniors to be increased up to 125% the poverty level. But he did no such thing!
beside being a gaff machine, he is a liar.
Biden's the one that fought to tax SS benefits
Biden is a Mob boss. Just like Hillary. Obama watched and approved all of it.
Yes pretty typical of Biden oh, he has a long history of lying about things
Biden never promised any SS increase. He supported plans for an increase though. Do you not understand how bills become laws? Biden does.
Should be higher as groceries still have increased in some areas
They don't count fuel and food
Every time my cola goes up all my bills go up and we’ll over. My storage unit went up by $26 my insurance went up $25 my electric has gone up $100 and I use nite lights to get around in my apt and do wash one load a week. I rarely use the stove or oven. I use my toaster oven or microwave or air fryer. I never use my oven/stove. I only use night lites at nite and found cheap lights on strips. I don’t watch tv and I do use one ac unit which is a portable unit. My bill is $200 per month. I do have a refrig that’s small and a deep freezer that is the smallest they make. My housing rent is $552. Tell me why they count my adopted sons income and he’s only seven. They really shouldn’t count his income because he’s a minor child. If we owned our home the mortgage wouldn’t use his income but our government does and it’s wrong. I had to sell my land and because I was in a car accident they were only giving me $2600 for my older car. I took $15,000 to buy another used car my older one was totaled and was in perfect condition I had for six years. We are considered living in poverty at $2,000 a month. I can’t collect ssi for another year and it’s not going to increase when I’m 66 1/2. Our economy has gone over and above what we are lead to believe. My daughter gets $4,000 and she lives in poverty collecting through the military her disability. Why is there such a huge difference? I’m paid through our government and she also is paid by our government. There is a actually $3,000 huge difference. My adopted done gets ssid from mine he gets $677 then the state paid subsidy is $400. My youngest daughter gets $700 from ssid she is 100% disabled. She can’t even get into an apt she is homeless out in the streets. I get $1,350. It would take $1,200 for a one bedroom apt. 2 bedrooms are $1,700. We can not afford a two bedroom or even a one bedroom. How are we suppose to survive? My bills take away every penny I make and leave me really broke.
It is kind of hard to believe because if social security recipient are having to borrow money each month just to make it
As someone who primarily lives on social security and investments, how can the COLA be 2.7%? Food costs are way up, rental costs are way up, gas prices are way up, car repairs are way up. What has gotten cheaper to counteract these increases? We used to be able to go out for dinner and expect to spend $20 per person at a reasonably good restaurant. Now, it can cost $18 at Subway and almost that amount at a Burger King for lunch!
The cost of gasoline at the pump is up much more then 2.7% in last couple months.
SS is Federal welfare. Stop complaining
Should go up 20 percent with all the high. Cost now
The numbers seem kinda crunched from my house. My check pays my rent. Groceries have really gone up to. 3 years ago I was living on vacation, not so much anymore.
Cost of everything has went up way more than 2.9% probably more like 10%!
2.7% increase? Last year it was over 8% and everything you buy is 10-30% higher. A can of sardines last year that was 2$ is 3$ now. That's been my main course. I'm not real good at math but I'm pretty sure that leaves 2.7% in the dust.
2.6%. That is reasonable from my viewpoint.
Basically, last year was 8.7, so this year, 10%
I’m thinking that the current increases in gas might push that number up a little.
I would say closer to the 5% range would be good.
You work all your life my husb and I when he passed I could get one as rip off
The way the number is calculated is flawed. Obviously, 2.7 percent is way lower than what the actual number should be.
How do they expect seniors to survive on 2%. The way the cost of everything has gone up this year we are worse off than last year.
Yes it should be higher. Everything else rose
Inflation is much higher than 2.7%!...What needs to happen at least 3%+ increase and stop the taxing of our SS benefits!