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Cola and inflation
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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".
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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
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 ref
broncovet
I like what Jim Gaffigan said. Someone told them they were cancelling their satellite dish internet. Jim said, "Why are you doing that? Then you will have to figure out what to do with the ex
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