2022 Cola projected..

[broncovet]

2022 Cola is projected at 4.7%.

https://www.myfederalretirement.com/2022-cola-estimate/ 

IMHO this is but a fraction of "real" inflation.  A 2x4 that is 8 feet long, used to build a home, went from $2.25 last year to $8.45 today, about 400 percent.  Gas has went way up, medicines are up, and, now there could be a beef/pork shortage.  Shortages mean higher prices.  

https://nymag.com/intelligencer/2021/06/beef-shortages-probably-coming-thanks-to-jbs-hack.html

 

[Scottish_Knight]

Be happy that you receive COLA.  I know that's easier written than done, but I receive no COLA.  We are punished when we stay overseas.  I get neither COLA nor is my dental covered under tricare.  Don't even get me started on the tax matter.

Edited June 2, 2021 by Scottish_Knight

[Carl the Engineer]

3/4 inch plywood........ holy crappers..

Just saying, 

Hamslice

Great year to NOT build my barn..

[El Train]

4 hours ago, Scottish_Knight said:

Be happy that you receive COLA.  I know that's easier written than done, but I receive no COLA.  We are punished when we stay overseas.  I get neither COLA nor is my dental covered under tricare.  Don't even get me started on the tax matter.

No way around that?  A US bank acct., US address, etc.  

[Carl the Engineer]

https://www.fedsmith.com/2021/05/28/biden-proposes-2022-pay-raise/

Down to 2.7 already.

Same day, that didn't take long.

Hamslice

Looking at a solid 1.7 by the time it rolls around.

[blahsaysme2u]

2 hours ago, El Train said:

No way around that?  A US bank acct., US address, etc.  

wonder the same thing. if my wife and i decide to move out of the states i dont want to loose benefits

[john999]

At this rate we will be going backwards income wise.  Have you experienced food prices lately?  Gas prices will be going up.  Who really knows what inflation rate will be for the whole year?  With what I make from SSA, pension and VA my wife and I barely make it.  We buy and keep cars for 10 years minimum.  I just concentrate on being able to have good health care for me and the wife.  Everything is more expensive except maybe a computer.

I really agree with what Bronco says about inflation. We have not gotten a real raise in basic compensation since WW2.  All our raises are inflation/cola raises.  In 1973 I was getting $28 a month for a ten percent disability.  I think 100% vets got less than $800.