Are you Social Security benefits keeping up with inflation? 👇
@virginiamoss7045
2 жыл бұрын
Wage earners have lost about 40% in buying power as well. It's not just Social Security. It's corporate greed sucking wealth from everybody.
@jakewolfe1774
Жыл бұрын
Great video, insight from an expert really helps.
@mariarod6998
2 жыл бұрын
Stop sending money to Ukrain and take care of our own especially our veterans and homeless people we have a big problem
@emichaelny336
2 жыл бұрын
Agreed, Ukraine is closer to Europe than the US so let the Europeans send the money.
@teripearson7853
2 жыл бұрын
Last year we got raise, then Medicare went up more then the ss raise. So was back to where I started or worse. Smh
@mariamagallanez959
2 жыл бұрын
Yeah medicare takes your cola raise and we end up right where we were🥹
@teripearson7853
2 жыл бұрын
@@mariamagallanez959 exactly
@lindadorman2869
2 жыл бұрын
The recent COLA increases make it possible for me to retire in 2022 at age 62. With no debt, and no intention of taking Medicare Part B as I plan to live outside the US, I now qualify for retirement visa programs in many other countries. I can travel, or settle down in a country with a much lower cost of living than the US and lead a comfortable life. The geo-arbitrage strategy (earning in USD, spending in local currency) works in my favor.
@neveenhaldaman273
2 жыл бұрын
Come to Egypt Nice weather cheap living
@joan5631
2 жыл бұрын
Do not kid yourself, it’s expensive and not too safe everywhere else.
@kurtsalm2155
2 жыл бұрын
@@joan5631 With the Democrat controlled cities, do you really think the US is safe? Wake up and smell the cappuccino!
@rvdareyet7201
2 жыл бұрын
That’s precisely what we did. We moved to Ecuador and live quite comfortably on just SS.
@rvdareyet7201
2 жыл бұрын
Oh, and Ecuador uses the USD so no need to convert currency.
@christopherhennessey8991
Жыл бұрын
I lucked out because I have a 1-2-3 punch of my RN pension,my own Social Security benefit,and a benefit for my child who is a minor.
@bridgettepinkelman491
2 жыл бұрын
I agree! They are not in NATO🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸 We should not be penalized , because a non- NATO
@marc639
Жыл бұрын
In Czech Republic they raise the pensions as necessary to keep up with inflation. Twice in 2022 already. They don't do it at end of the year. Medicare goes up at the real rate. We get crumbs. Will anyone fix it? Hell no
@jessieharris4791
2 жыл бұрын
Are United States needs to take care of their own that Ukraine defend her own country in their own problems Walter Walter Baden needs to stop sending them being the billions of dollars in relief that's their own country defend herself and United States needs to take care of their own veterans and their homeless
@johnc2438
2 жыл бұрын
The answer to your question, of course, is no, based on your discussion. But one important factor in my wife's and my planning for retirement was to have no debt before we began collecting our SSA benefit. That meant NO mortgage, NO car payments, and NO other debt payments of any kind. We also set aside money each month during our working years to "pay ourselves" first, even if that meant not having the shiniest, largest, newest SUV on the street and other "necessities" that most everyone believes he or she "deserves" because "we work so hard," even if that means going into debt to have this "stuff." Having "stuff" doesn't make you more secure or even more comfortable most of the time. Are we less comfortable driving an older, well-maintained SUV (no monthly payments) than a neighbor driving that latest model parked across the street that comes with $600-plus monthly payments for the next six years or so? Answer: No. So you can manage inflation for the longer term by living within your means during your working years and paying yourself first, saving and investing that money, little by little. Also, deferring taking SSA benefits beyond your FRA means they go up at 8 percent per year. Add the COLAs to those, and you start with a higher baseline when you collect payments. If the next COLA is, say, 9 percent, that percentage added to a $3500 monthly benefit for 2022 means an increase of $315 but only $158 on a 2022 monthly benefit of $1750 taken years before your FRA. Patience is a virtue that really adds to the bottom line in retirement and helps soothe the pain of inflation. Save and invest, get out of debt before you retire, defer your benefits if you can get by without them beyond your FRA (for a few years) and patience and prudence will pay dividends.
@kathleenphillips7145
2 жыл бұрын
Great advice. People need to educate themselves on the benefits of saving and becoming debt free and not to depend solely on Social Security which was never meant to serve as one’s entire retirement savings.
@leedanielson7452
2 жыл бұрын
If you wait to collect Social Security the odds are you ain’t gonna be collecting for long so what good does it do? SSA Loves people who don’t start collecting at age 62 Because in the long run they’re not gonna have to pay out as much because they’ll all be dead within just a few years!!!! That’s life man!
@dorisdemmitt6540
2 жыл бұрын
Everybody on social security are they going to get a raise or is just for special people
@marc639
Жыл бұрын
Massive screwing is what we're getting. United States is the lowest pension of all western countries. Just below Hong Kong. Not even in top 15. We all should get 4000 per month or more to keep up with inflation
@mikedougherty1117
2 жыл бұрын
Will the people who start collecting 10 yrs from now see this same impact on our SS statement next year?
@johngill2853
2 жыл бұрын
I'm not sure if it'll show up on next year's statement. But it will definitely show up in the future as in the one after next year
@bradk7653
2 жыл бұрын
Not exactly, the COLA only affects those that are 62 or older. Those that are younger will have their projected benefits adjusted by the AWI (average wage index), which will likely be lower in these inflationary times. Normally the AWI increases faster than the COLA, but it likely will not be this year and possibly not next year.
@MrGWoodle
2 жыл бұрын
It may show up in the wage inflator that converts old wages into today's prices. May take 5 to 10 years to show on SS statements. May affect 1960's wage tables.
@eddielogwood5249
2 жыл бұрын
How much my social security Eddie logwood
@martinneps9387
2 жыл бұрын
If I get SSI How much more can I possibly receive in 2023 please comment bacomment back my rent is a 1000Plus I have utilitiesPlease comment back so sick and tired of strugglingAt the age of 54 being on SSII never thought I would be in so much pain with my injuries from working at the board of ed New Haven schoolsAnd have to suffer with not being able to is he able to enjoy anything you think I am so sick and tired of it please Comment back thank you when when is it going to get easier when I'm 6' under and I and I have no more billsIs that when I'm going to be able to enjoy life when I'm dead
@barrysimmons4546
2 жыл бұрын
There should be no increase in SS. The program will soon be insolvent. Seniors are so greedy!
@deebee4622
2 жыл бұрын
Seniors paid into Social Security and the program will not soon be insolvent. Ignorance is not a good look!
@111wash
2 жыл бұрын
Jackass that’s my money that I will never get it all back.
@bruced.370
2 жыл бұрын
You're nuts 🥜!!! It's an entitlement that seniors and their employers have paid into it! 😡
@SIGP365
2 жыл бұрын
Workers and their employer paid into Social Security so we are getting back what we paid. Now welfare is totally taking away from taxpayers. Get people off welfare and stop the illegal aliens from coming into the country.
@jecs2123
2 жыл бұрын
The greedy ones are the corrupt politicians and bankers. Not the Seniors who had to pay into the system. Otherwise, stop collecting social security from paychecks then
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