Cola and inflation

[broncovet]

As many of you know, our Cola for 2022 will be 5.9 percent.  But wait!  Its not really that much!  Why?

Before "we even begin the year 2022" our medicare part B, will increase 14.8 percent from 148 to 170 per month.  That means medical, often a big part of seniors bills, will increase at almost 3 times as fast as our Cola.  

 

So, social security recipients (except those who opt out of part B) will see a good part of their Cola vaporize before the New Year even arrives.  

Neither Cars, nor gasoiline is any better.  Used cars are up 32 percent, according to Consumer reports:  https://www.consumerreports.org/buying-a-car/when-to-buy-a-used-car-a6584238157/#:~:text=Woolard says that current used,in the nation's inflation rate.

Gasoline, from December last year, was 2.28 per gallon average.  The most recent is 3.49 per gallon, that is an increase of 53 percent for the past year.  

COLA.  5.9 percent

Cars.    32 percent

Gasoline 53 percent.  

Medical. 14.8 percent.  

Ground beef, at my local store, is similar to gasoline..from 2.29 last year, to 3.49 this year.  53 percent.  

     Jim Gaffigan said, that a friend of his cancelled his satellite tv subscription.  Jim responded, "Why do you want to do that?  What are you gonna do with your extra. $500 a month you will save?  "  

     He is not far off.  By the time you figure one time fees (that occur over and over) taxes, fees that we have no idea what they are, and increases, your "29.00 per month cable bill" is well over 100 or even 200 per month, after the planned increases.  I got rid of mine, too, and dont believe any cable company that says "29 per month".  

     

 

[scottinmt]

Broncovet, I believe the calculation for COLA is already decreased by 1% so the actual COLA should have been 6.9%.

I haven't had cable for years, I pay Verizon Fios for an internet connection and stream Sling and Prime and Newsmax.  All-in-all less than the cost of cable.  Plus if you have Verizon you get a veterans discount for both your phone and Fios.

These are crazy times

[john999]

Oh, yes we are falling behind even if we got a 7% COLA.  If we have a 6.9% inflation rate that will devastate any savings you have over time.  Inflation just kills savings and investments except real estate, perhaps.  The government will do anything to fix inflation including throwing millions of people out of work by raising interest rates.  Inflation hurts stocks and bonds and Wall Street rules the nation anyway.  I own some stocks and I am way down over the past month since alarm bells rung over inflation and the new viris.

[Marine Corp 69/70]

Guys do you really need the money, your the jerk that became disability you should have run for Congress and become Millionaires and dodgers the Military let most of us did.

[pwrslm]

Real estate is the only thing going up. My Mortgage company has contacted me multiple time in the last 60 days telling me about the 107k in accumulated equity on my primary residence. They want to refi and give me 67k cash. That defeats the idea of paying off the loan from the git go. They still keep calling though, like they anticipate that I will change my mind.

[broncovet]

Scottinmt, I looked up fios, by Verizon, and it is available.  

Since I dont have Verizon phones, it would be a little pricey at 70 per month.  

However, I would not sign up for Verizon phone service, on contract, if they offered to pay my internet, my house and car payments, and also agreed to give me 2000 per month for life.  

You can bet my Verizon phone bill would be 4000 per month, plus taxes, fees, one time charges, all time charges, monthly increases, daily increase factor, plus penalties and interest.  

I use "prepaid" cell phone service EXCLUSIVELY.  My phone bill is $32.00 per month, never goes up, and this includes all the fees above, I mentioned.  Never again a phone contract.  This includes "no contract" phone service, where you buy the phone on time.  Its the same thing, except worse.  When I need a phone, I buy one.  No payments.  Its CRAAAAAAAZYYYY to spend so much on a phone you have to finance it, and string it out over 2 or 3 years, even if your phone gives back rubs, cooks your meals, and drives your car while you sleep.  

[john999]

Verizon are a bunch of thieves.  I have a phone through my cable bill.  Cheaper by far.  I also use the cheap cell phone thing.  I don't need a smart phone glued to my ear 24/7 like some people.  People pay $1000 for a smart phone.  You know one thing about cell phones is that you are being tracked by anyone with authority to get your cell phone records.  Cell has GPS to track you.  Talk about Big Brother.