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Discussion Boards => Off-Topic => Topic started by: calendria on August 30, 2021, 12:02:27 pm

Title: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: calendria on August 30, 2021, 12:02:27 pm: :cat:

:glasses-nerdy:

Update here:

https://www.thinkadvisor.com/2021/08/11/social-security-cola-estimate-for-2022-raised-to-6-2/

The annual cost-of-living adjustment, or COLA, for Social Security benefits in 2022 — usually announced in October — could be 6.2%, the highest since 1983, based on Wednesday’s Consumer Price Index announcement, according to Social Security and Medicare policy analyst Mary Johnson of The Senior Citizens League, which estimated the 2022 COLA would be 6.1% a month ago.

The latest estimate, which is based on July consumer price index data of 5.4%, is especially significant as next year’s COLA will be calculated on the average of third quarter, or July, August and September, 2021 CPI data.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: Donnamarg323 on August 30, 2021, 12:14:17 pm: Every little bit helps.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: Nancy5 on August 31, 2021, 05:28:52 am: That would be a help for those collecting Social Security.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: ktheodos on September 01, 2021, 12:51:29 am: Wow...shows how much inflation has occurred
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: bretay on September 01, 2021, 04:45:28 am: that would be nice..hubby gets social security and its our only income
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: sipingyu on September 01, 2021, 05:38:10 am: I am surprised that the adjustment is that high, as you said, the highest for a long time. I think inflation is definitely here.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: mrisha on September 01, 2021, 05:59:39 pm: I have read something about that via AARP. Not sure if it's going to increase that much, but would be helpful to a lot of people.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: alina6 on September 01, 2021, 07:29:53 pm: For those working you will be able to put more in your 401(k) plan
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: plennis on September 06, 2021, 05:54:34 pm: Any increae would help. But some serious work needs to be done with Social Security. The monies "borrowed" by the federal government need to be paid back..and they should not be allowed to borrow from it any more. This is a savings account we all pay into not a slush fund for pet projects.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: ghunter on September 07, 2021, 06:28:36 am: I don't believe it will happen
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: calendria on September 07, 2021, 11:34:21 am: :cat:

Update: Now they experts are saying 7% . Can't keep up with inflation, as more and more prices are raised, the Cola goes up too.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: potluck6 on September 07, 2021, 11:40:31 am: hope its that high myself and husband both get it. last year was only 1.3 percent if i remember ,.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: mrsmere on September 22, 2021, 01:51:11 pm: That sounds good and will be appreciated by many.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: linderlizzie on September 22, 2021, 06:38:09 pm: Finally, some good news. I like good news. Thank you, calendria. :present:
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: sdenimandlace1 on September 23, 2021, 03:47:49 am: Sure hop either one of those numbers are correct. Every little bit helps.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: potluck6 on September 26, 2021, 12:42:19 pm: better raise the debt ceiling then if not s.s. could have problems.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: cateyes1 on September 28, 2021, 06:26:33 am: I hope this is the case, every little bit helps but we shall see in December
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: plennis on September 30, 2021, 10:55:36 am: Quote from: Nancy5 on August 31, 2021, 05:28:52 am
That would be a help for those collecting Social Security.

This will definitely be a great help.. Also they keep talking about adding on some dental care to the medicare.
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: tantricia44 on September 30, 2021, 11:31:13 pm: We need it now!
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: Slee800w on February 01, 2022, 12:54:36 pm: I hope the cola for 2023 is just as high, I could really use those extra bucks
Title: Re: Social Security COLA Estimate for 2022 Raised to 6.2%
Post by: sipingyu on February 02, 2022, 06:01:21 am: My parents are so happy when they see it initially, but the cost of medicare also rises by even more than that percentage, so net net the effect is neutral.