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Discussion Boards => Off-Topic => Topic started by: calendria on June 18, 2021, 03:47:47 pm
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:cat:
:glasses-nerdy:
Cola Highest in 13 years! Says Fox news.
https://www.thinkadvisor.com/2021/06/10/social-security-cola-estimate-for-2022-raised-to-5-3/
What You Need to Know:
It would be the largest increase since 2009, according to the Senior Citizens League, which produces the estimates.
The number is tied to a larger-than-expected rise in inflation.
The 2022 Social Security COLA will be announced in October.
May’s core CPI, which excludes food and energy, rose by a larger-than-forecast 0.7% from April and 3.8% from a year ago, the most since 1992, according to Bloomberg. For the past three months, this figure has increased at an annualized pace of 5.2%, which is the fastest since 1991.
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Good to know. Thanks for the info. :party:
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That would be great if it real happens.
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cool that would be wonderful... we will see...
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That would be really great if that happened. Everything is going up except our payments. My retirement never gets an increase because it depends on the local government to increase what they pay in.
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Thanks for the information. I hope this really happens.
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That would be wonderful if it really happens.
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Likely due to inflation...partially as a result of the stimulus
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I asked about. This. Here. Also talk. About. .200. 00 more a month yeah. Right.
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This would be great for seniors who paid in for their entire life. Never seem to get much of an increase.
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:cat:
Decided! We get a 5.9% increase !! Yay! ;D
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That's great.
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Now they're saying it will be 5.9%. That's fine but don't forget, Medicare will probably go up 5.8%. Every time we get a COLA, Medicare costs more, too and you wind up losing.
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That is a really high raise seniors will get. Good for them.
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I hear 5.9 as well and that makes this senior sooooooooooo happy :)
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its 5.9 percent good to know.
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:cat:
Last increase was very low, $5.00 or so and my Homeowners ins went up $4.00, so I ended with a $1.00 increase!
Really hope this doesn't happen again with this one!
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I hope it happen at all with what they have going on. Hope we get paid in Dec.
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Actually the COLA is going up to 6.0 or better for SS.
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My Husband is on Social Security. I hope that he gets that big increase for 2022.
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I feel that the actual inflation is actually higher than 5.3% if I loo at grocery store prices in my area.
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My parents live on SS and the increase isn't going to come close to the increase in groceries and gas. Too bad our country is going down in flames quickly :(
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I hope this is true, I heard 6%, but 5 is good also.
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:cat:
Got my email from SS yesterday and confirmed the increase. However, got the notice my taxes were increasing so escrow increased to offset and the amount left over is negligible. Told you, also Medicare insurance went up 170+ per month.
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That will help all the retired people if it happens!
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I will be looking for that :present:
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The only problem is they also raised the amount they are taking out for Medicare, so I will only be getting about $5.00
more per month. Same with everyone I have talked to.
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:cat:
The Medicare insurance companies raised the premiums, duh. Covid19 cost us a lot!
Exactly! 35.00 more each month for Insurance and 40.00 Cola equals about $5.00 increase. We. got. snooked.
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Thanks for sharing, this is good to know
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Thanks for sharing, this is good to know
You are welcome. I believe if more numbers were shared regarding Social Security and Medicare, we would all be surprised! $170.00 per month for Medicare and it used to be $134.00 per month. No one told me before I started getting the insurance, so how could you know.
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:cat:
:glasses-nerdy:
Cola Highest in 13 years! Says Fox news.
https://www.thinkadvisor.com/2021/06/10/social-security-cola-estimate-for-2022-raised-to-5-3/
What You Need to Know:
It would be the largest increase since 2009, according to the Senior Citizens League, which produces the estimates.
The number is tied to a larger-than-expected rise in inflation.
The 2022 Social Security COLA will be announced in October.
May’s core CPI, which excludes food and energy, rose by a larger-than-forecast 0.7% from April and 3.8% from a year ago, the most since 1992, according to Bloomberg. For the past three months, this figure has increased at an annualized pace of 5.2%, which is the fastest since 1991.
Actually it is more than that. It's 5.9%.
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My Husband is on Social Security and he got over a hundred dollar raise this year.
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My Husband is on Social Security and he got over a hundred dollar raise this year.
But did you notice the 14% hike in Medicare premiums?
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I hope that the cola for 2023 is going to be that high as well. If you took a look at the 1975 through 1982 colas it went that high and even higher for several years. Hope from 2023 and on, at least for a few years the cola reaches that high.
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:cat:
???
I just read an article the says 2023 COLA will be 8.6% increased! This is due to inflation striking us with higher gas, food and rent! Anyone else see this? This will increase Social Security checks by over 140.00 a month for Most people.
A typical monthly Social Security check is about $1,658, according to CBS News. With the projected increase, beneficiaries could see about $142.60 per month added to their checks starting in 2023. That would bring average checks to about $1,800 every month.
https://www.wtsp.com/article/money/social-security-checks-cola-hike/67-8502d0de-909d-45e6-b5ef-0cb9d575d9b0#:~:text=CBS%20News%20says%20because%20the%20cost%20of%20everything,month%20added%20to%20their%20checks%20starting%20in%202023.
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I don't think this is the best solution in this situation, there are alternatives
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:cat:
Quote from ToTru Post on TellWut:
COLA increase for 2023 will be based on these figures if they do not change:
accelerated to 9.2 per cent in March 2022, up from 7.5 per cent in February 2022, 6.8 per cent in January 2022 and 6.4 per cent in December 2021.May 10, 2022
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I wonder how high the cola is going to be for 2023, I hope it's high, I heard it's going to be high
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:cat:
>:(
COLA is estimated at 3% next year, 2024, according to a forecast from The Senior Citizens League,
That’s much less than the four-decade high 8.7% COLA in 2023 but above last month’s estimate for a 2.7% increase for 2024.
https://www.usatoday.com/money/
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COLA is not high enough because of increase inflation. Try to save some money and invest it in CDs to increase your income.
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This was last year and greatly appreciated. I hope this year will be just as good as last year. Things have gone up so much and people need a good increase.