I'm guessing that inflation is more like 7%. Yes, 1.7% is better than nothing but we need to make this up sooner or later.Well, they announced yesterday that those on SS will be getting a 1.7 percent increase come January.....
According to those that keep track it amounts to an AVERAGE of bout 20 bucks per individual.
Wow! guess it's better than nothing?
andThe all-items inflation rate represents everything people spend money on: haircuts, plane tickets, medical care, clothes -- you name it. But, that number is puffed up by the pesky necessities -- food and energy. So those two categories are discarded when calculating the core inflation rate.
emphasis mineFood prices increased at nearly twice the rate of core inflation over the past year, rising 1.8 percent compared to the core inflation rate of 1 percent for the year ending in January.
But that's nothing compared to fuel costs. "The big culprit has been energy prices, which are up 7.3 percent" over the same time frame.
We're not going to be able to avoid inflation. The government needs it to dwarf debt. Our only hope is that we get enough raises to keep our heads above water. If inflation is inevitable then raises are a good thing.Seniors get a 1.7% raise, just enough to cut help on med's, etc. Then, last night on the news, I saw Pasta had raised prices by 7%-and--this is only one item.
Frankly, most of us would have been better without a raise!
It's not easy to convince people in their 20s & 30s that retirement is ever going to happen.Like moon said, more then we are getting in the working world.
For the last 40 years there has been talk of ss going under and everyone should save up for retirement. Why don't people save up more? Why do some retires still have mortgages?
It's not easy to convince people in their 20s & 30s that retirement is ever going to happen.
Good point.And--it's impossible to predict accident's-and cancer-which devastates savings FAST!
ET1 SS, sorry to read about your PCa. I went through the same thing in 2010. Interesting thing was that my psa was still low at 3.07. But it had gone up slightly so I was uncomfortable with my family docs recommendation to wait another year. Went to see my Uro, who did " the" finger exam and felt a nodule. The rest is history...biopsy.." You've got an aggressive cancer sir". Surgery to remove the Prostate. Pathology confirmed a Gleason 9.... Dang it! Anyway, 2010 through 2012 was spent doing Lupron hormone therapy. So far my psa has been non detect. Thank the Lord!Good point.
I just had prostate surgery on the 14th of October. From the first blood test that indicated an issue, through all the scans, biopsies, surgery and hospital stay, beginning to end it took 10-weeks. So far only the first co-pay bill has arrived.
I suspect there to be many bills arriving in the next few weeks.