Community Chat

[MaverDaver]

It's unfortunate that inflation triggered this large percentage and most of it will be eaten up by the end of 2022 and we'll be back at square one trying to keep our heads above water. BTW it's my understanding the CPI is calculated based on purchases made by much younger adults (those pre-social security eligibility) therefore the goods/services purchased by them is not in line with goods/purchases by seniors.

This out of control inflation is what you reap after 'giving away the farm" with those stimulus checks!

[catwhisperer]

I am grateful for the increase, however, I got a 10% rent increase a year ago and another 10% increase this month, so I'm still in the hole.

[CrazyDaisy]

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@Suzeecat wrote:

This is good news! (Assuming you're talking about Social Security)  I was going to retire this January but put that on the back burner due to the inflation this year.  I figure it would help if I could earn another year's wages, and contribute another year tom y 401(k) instead of start to withdraw.  However, my employer has been handling out meager 3% raises for the past several years.  Uncle Sam is doing better!

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Be grateful for your "meager 3%", many have not had anything.  Going backwards on that slope.

[sunshine45]

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@proudlyfromNJ wrote:

We bought our house in 1989. Interest rates were horrible. If I remember correctly, they were in double digits. Thank goodness eventually they went down and we refinanced. The old days weren't always so wonderful.

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@proudlyfromNJ 

that is when we purchased our first home .....and yes, they were horrible!

by the time the interest rates were dropping some years later, we moved out and were able to buy a larger family home at a much better interest rate.

[chessylady]

@MaverDaver I don't think the stimulus checks had much to do with inflation. Inflation is a worldwide phenomenon. Recently the British pound was worth less than the dollar which is unusual.

[Carmie]

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@sunshine45 wrote:

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@proudlyfromNJ wrote:

We bought our house in 1989. Interest rates were horrible. If I remember correctly, they were in double digits. Thank goodness eventually they went down and we refinanced. The old days weren't always so wonderful.

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@proudlyfromNJ 

that is when we purchased our first home .....and yes, they were horrible!

by the time the interest rates were dropping some years later, we moved out and were able to buy a larger family home at a much better interest rate.

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We purchased our first home on August 31, 1979. The interest rate was 11.75%.  Our 30 year payments were $163.75 a month.  

Right now, I'll take any money I can get.  

[chrystaltree]

You can't please some people.

[Shelbelle]

Stupid me, I thought you were referring to a new flavor of Coke or Pepsi!! 

[pdlinda]

@AuntG   It is welcome; HOWEVER, it is nowhere NEAR what I have lost on my investments in this awful economy.

[SharkE]

I'll 2nd that, sis !   My financial man keeps saying "hang in there it will get back to normal".  

I'm way down.