Veterans Cost of Living in 2022 could be big

[Tbird]

Veterans may be in line for a big cost-of-living boost in their benefits payouts starting in December thanks to legislation finalized by Congress on Monday. Read: https://hadit.com/a-big-cost-of-living-boost-for-veterans/

[GBArmy]

Sounds good, Tbird. The Senior Citizens League has been putting out their projections for COLA for several years and they are among the best in terms of accuracy based on how they do it. They just said last week they estimate the COLA for 2022 to be 6.0 or 6.1%. Hopefully, they are accurate again this year.

[deedub75]

We need a really high inflation index this month and then we need inflation to go way down after that!  

[El Train]

What are we going to do with all this extra dough? .  I'm planning my next vacation right now.

[63Charlie]

Excellent...now I can go buy that shiny new red Corvette

 

 

[broncovet]

The Military Officers Association estimates the increase to be 5.9%, but that will vary with the CPI W, which will be published "About" Oct 15 or so.  https://www.moaa.org/content/take-action/cola-watch/

Just in case, better think about a car that gets better mileage than the Vette, which is just about every other car.  

My Honda CRV hybrid gets 40 in the city, 38 on the hiway.  Its a great car, quiet, smooth.  .  It has more horsepower than the non hybrid CRV and gets better mileage.  How is that so?  Well because the electric portion of the hybrid adds 12 more horsepower.  Like the other hybrids, when you push the brakes it charges the hybrid battery.  

The hard part:  Its hard to find honda crv hybrids for sale.  Too many people like em.  

Edited September 24, 2021 by broncovet

[john999]

Workers and retired people are always behind the eight ball when it comes to inflation.  I believe that the cost of food, gas and most other essentials havs risen more than 6% this year.   Some of those in congress have been trying for years to reduce the COLA for us.  They are the believers in the "trickle down" philosophy.  I got a disability insurance payment of $675 a month in the year 2001.  There was no inflation adjustment to the annuity.  20 years later that $675 is chump change because the buying power of the dollar has eroded badly.