I would love to know how these numbers are created because they are saying my food bill only went up around 25% but in reality it has gone up LITERALLY 200% NOT EXAGGERATING EITHER!
I get how frustrating that feels! The Social Security cost of living adjustment (COLA) is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which averages price changes across a wide range of goods and services. But if your personal spending is more focused on items that have seen bigger price hikes, like certain groceries, it can definitely feel way off. Unfortunately, COLA might not fully capture those sharp increases you're experiencing.
Inflation has not cooled off it has gone up for the last three years and is around 9.86% and going up just look at your bills and what you pay for food and other items it has not gone down one bit.
You're right-it's possible that much of the COLA increase could be offset by higher Medicare Part B premiums. Medicare Part B premiums tend to rise each year, and when they do, it can eat into the extra money you get from the COLA. This is a common concern among Social Security recipients, as the COLA is meant to help cover the increasing cost of living, but higher healthcare costs, like Part B premiums, can reduce its impact.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
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I would love to know how these numbers are created because they are saying my food bill only went up around 25% but in reality it has gone up LITERALLY 200% NOT EXAGGERATING EITHER!
I get how frustrating that feels! The Social Security cost of living adjustment (COLA) is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which averages price changes across a wide range of goods and services. But if your personal spending is more focused on items that have seen bigger price hikes, like certain groceries, it can definitely feel way off. Unfortunately, COLA might not fully capture those sharp increases you're experiencing.
Inflation has not cooled off it has gone up for the last three years and is around 9.86% and going up just look at your bills and what you pay for food and other items it has not gone down one bit.
Looks like most of the cola is going to be offset by a higher Medicare part B premium.
You're right-it's possible that much of the COLA increase could be offset by higher Medicare Part B premiums. Medicare Part B premiums tend to rise each year, and when they do, it can eat into the extra money you get from the COLA. This is a common concern among Social Security recipients, as the COLA is meant to help cover the increasing cost of living, but higher healthcare costs, like Part B premiums, can reduce its impact.
And now that we are in the middle of the 3rd quarter the cpi number is moving down. Same thing every year. Anything to keep the COLA low.
Like clockwork I’m sure
Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
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They don't even calculate cola effectively edit: my inflation hasn't decreased
I agree my inflation is very high they can do all this BS it's not them living with this inflation
Why does the back pay process takes so long?
Watch the CPI report that determines the increase show that the economy is killing it.
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