6.1 % COLA

[Carl the Engineer]

https://www.cbsnews.com/news/social-security-cola-2022-increase-biggest-nearly-40-years/

Enjoy,

Hamslice

 

[broncovet]

Yes, BUT congress could cut that to 3% or less.  https://www.moaa.org/content/publications-and-media/news-articles/2021-news-articles/advocacy/why-a-cola-spike-could-put-retirees-pay-adjustment-at-risk/

Remember history:  Since year 2000, seniors (which includes disabled Vets, since our compensation grows (or stays the same) as social security) have lost 1/3 of the value of their SS/VA income because inflation goes much higher than our cola.  

We need to write to our congress critters and ask them "not" to mess with Cola in any way which results in anything less than current CPI W.  

Of course, if they adjust it so its more, then we are good with that.  Its about time Vets got a pay raise.  (Last years, was 1.3%.  

"REAL" inflation is probably 5 times that..in stuff we buy:

Gasoline 

Groceries

New/used cars

homes

Medical

Mostly everything else.  

 

 

 

 

[Fat]

I'm hopeful for the 6.1%.

[brokensoldier244th]

Thats what I was going to say- sure, the calcs may come in that way, but that doesn't mean thats what will happen. Fed workers are looking at their COLAs hitting in January so while Id love it if both came in high, Im not holding my breath that Congress will let either or both of them through without some tweaking, considering what the CPI has been like so far this year. *shrug* But what do I know? LOL> I took game theory instead of advanced algebra and calc I.

[john999]

Inflation over decades is the number one enemy for us retired types.  If actual inflation is 5% and we only get a 2% COLA we are rapidly losing our buying power.  So we are going into the hole every year and getting poorer and poorer.  If you have money then invest it. This is probably the only way to keep up with inflation.