2024 Social Security COLA (teach, taxes, insurance, cost)
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It's like that episode of "All In The Family" where after a nasty strike against his employer Archie's union wins an "X" percent raise. Mr. Bunker is very pleased with himself, lights up a cigar and settles into his favorite chair. Then his SIL (the Meathead) points out inflation actually is "Y" so Archie's raise already puts him behind the 8 ball.
It's like that episode of "All In The Family" where after a nasty strike against his employer Archie's union wins an "X" percent raise. Mr. Bunker is very pleased with himself, lights up a cigar and settles into his favorite chair. Then his SIL (the Meathead) points out inflation actually is "Y" so Archie's raise already puts him behind the 8 ball.
the cpi is no one’s personal cost of living index .
it’s simply a price change index that tracks the prices of good and services in the 1500 mini economies .
there is much we don’t use in it as well as how many times you personally use something is unique to you .
study after study show seniors are effected less by inflation then those raising families .
seniors tend to spend in a smile shape where we start out going ,doing and spending , then spending falls off a cliff as we don’t go , buy and do a lot of what we used to , then as we age spending on health care ramps up .
that which we no longer buy or do pays for a lot of what went up .
this pattern has held true for most seniors , NOT ALL
The way CPI is tracked is a joke. Yeah I know it isn't anyone's personal cost of living but the cost of everything has gone up more than 3%. Insurance food etc. Bought a crappy meal at a fast food joint lately? Inflation is running closer to 20% than 0. Keeping seniors up with inflation isn't a priority.
The way CPI is tracked is a joke. Yeah I know it isn't anyone's personal cost of living but the cost of everything has gone up more than 3%. Insurance food etc. Bought a crappy meal at a fast food joint lately? Inflation is running closer to 20% than 0. Keeping seniors up with inflation isn't a priority.
Shadowstats website calculates inflation using the older algorithms (1980 and 1990) and those numbers seem more realistic to me as that is what I see when buying stuff.
there is no index that can match the cost increases we personally have seen.
our long term care partnership plan is up 40%.
our new drugs we are on jumped from 8 bucks for three months supply on the old meds to 245 a month because i am now in the proverbial GAP
we got a new car so insurance is up 500 a year
we had to add new monthly subscriptions to things for the new car.
but most things are not inflation related much so all our stories are unique to us .
we all pay more for energy and food but allot of other stuff is personalized
Last edited by mathjak107; 10-13-2023 at 09:56 AM..
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