Quote:
Originally Posted by OrangeBlossomBaby
At some point, you will no longer be capable of mowing your own lawn. But the lawn will still require mowing. You'll have to pay someone to do it. If your social security doesn't rise enough to cover the increase in your health insurance, AND general inflation on goods and services, AND the increase in amenity fees, AND the increase in taxes - then you'll be hurting.
Social security is considered a fixed income, even though it goes up a few percentage points every year or two. Your costs for living, generally go up more than a few percentage points every year or two.
Eventually, your fixed income will cease to be enough to support your costs for living. If one of you outlives the other, you'll end up with less to live on. Even pensions don't transfer 100% to a spouse, it's always a reduced amount. If you're struggling now, good luck affording it later.
|
Social Security COLAs have matched or exceeded inflation (cost of living) over the past ten years or so (can't remember exactly how far back I looked). Yes, you can find examples of items that have increased more but if you're honest you can find examples that have increased less. If one is living solely on SS then hopefully they will choose wisely.
__________________
Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
|