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Cola


john999
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  • HadIt.com Elder

I see that our cola is about 2% for the year so far. This is preposterous considering the cost of homeowners insurance,gas, electric, food, clothing, housing and all the rest. In my neighborhood where I have access to VA care and doctors who can help me I could not afford to buy my own house if it was on the market today. I feel under seige. My private medical insurance and Part B and homeowners insurance continue to climb. For anyone trying to live just on VA and SSA the prospects are dim. I have really pulled in my horns when it comes to spending and I am thinking how to make my money last. This is not what I had in mind ten years ago when I was making good money and had a 401K and a pension. Now I feel like a beggar/

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Hello John, I to was having a hard, SSI and VA just doesn't do it. So we decided to take a reverse mortgage on the homestead. My son’s ask? What’s a reverse mortgage? I told them I was spending their inheritance. That’s about the only was we could do it. bill

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  • HadIt.com Elder

So the COLA has dropped in half in one month?

Don't seem right.

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I see that our cola is about 2% for the year so far. This is preposterous considering the cost of homeowners insurance,gas, electric, food, clothing, housing and all the rest. In my neighborhood where I have access to VA care and doctors who can help me I could not afford to buy my own house if it was on the market today. I feel under seige. My private medical insurance and Part B and homeowners insurance continue to climb. For anyone trying to live just on VA and SSA the prospects are dim. I have really pulled in my horns when it comes to spending and I am thinking how to make my money last. This is not what I had in mind ten years ago when I was making good money and had a 401K and a pension. Now I feel like a beggar/

The COLA number so far is 4.1%, not 2%.

Unfortunately though, The sept number has to come in high because we had a high number last sept.

The final tally will be available on Oct 18th. I suspect that because oil prices are dropping that 4.1% will end up in the area of 2.9-3.4% That's just an educated guess. I don't see it dropping below 2.7% though. That's just not gonna happen. I'll post the real number on the morning of the 18th.

Edited by Peacenik
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  • HadIt.com Elder
The COLA number so far is 4.1%, not 2%.

Unfortunately though, The sept number has to come in high because we had a high number last sept.

The final tally will be available on Oct 18th. I suspect that because oil prices are dropping that 4.1% will end up in the area of 2.9-3.4% That's just an educated guess. I don't see it dropping below 2.7% though. That's just not gonna happen. I'll post the real number on the morning of the 18th.

How come they only count Oil Prices when they go down?

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The cost of groceries and gasoline are not in the equation (cost of living increases) because they "fluctuate too much". But groceries and gas have increased enormously in the last 2 years.

They will announce the increase, but the President always has the last say.... and he usually always lowers the percentage a bit.... like minus one-half a percent or 1 full percentage. What we need, we won't get because of the growing federal deficiet. We'll get a meager 2.75% and need an 8% increase. We are sinking.... loosing more and more buying power. 2.75% means we loose more ground, again.

It's a shame.

Not true, the cola is based solely on the CPI/W.

By the way, I agree that the rate of inflation is higher than that. You just have to live and breathe to know that.

My best to you.

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  • HadIt.com Elder

Billyboy

I understand the money you get from the reverse mortgage is tax free. If you know you are going to move this is a path to increase the cash flow. Your 100% is supposed to be able to support you and your family. What a joke since we are all going in the hole unless we had about an 8% cola every year or they increased the total amount for 100% to about $50,000 instead of $30,000. We spend our golden years clipping coupons and going to yard sales.

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This thread is over 365 days old and has been closed.

Please post your question as a New Topic by clicking this link and choosing which forum to post in.

For almost everything you are going to want to post in VA Claims Research.

If this is your first time posting. Take a moment and read our Guidelines. It will inform you of what is and isn't acceptable and tips on getting your questions answered. 

 

Remember, everyone who comes here is a volunteer. At one point, they went to the forums looking for information. They liked it here and decided to stay and help other veterans. They share their personal experience, providing links to the law and reference materials and support because working on your claim can be exhausting and beyond frustrating. 

 

This thread may still provide value to you and is worth at least skimming through the responses to see if any of them answer your question. Knowledge Is Power, and there is a lot of knowledge in older threads.

 

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