Community Chat

[Mindy D]

[Peaches McPhee]

Well, yeah, but consider those  were high inflation years, and the SS increase probably was just barely keeping pace, if at all.   

[bathina]

In 1980, mortgage rates were 10% and CD rates were 19%. So there's that.

[esmerelda]

Mortgage and cd rates were both closer to 17% in 1980.

[cherry]

I complained that I had no shoes, until I met a man that had no feet...for goodness sake  most working people are doing all they can to pay taxes. I say thank you

I know we paid in a great deal, but , now we are retired, and what we pay is  our fair share..I don't expect working  people to be wrung dry.

I count my blessings

[Krimpette]

Times have definitely changed.  I've lived in my house since 1984.  When I bought it, the interest rate was 12%.  That's not a typo...twelve percent.  Yikes!

[Mindy D]

The Consumer Price Index for Wage Earners is focused on indicators, such as gasoline prices, which are not the main rising costs for seniors. Some have said that using the CPI-W, The Consumer Price Index for wage earners and clerical workers, to calculate COLA,  is not meeting the needs of seniors and that a different price index should be used to calculate COLA since this index does not accurately indicate rising costs for the senior population. They propose using the CPI-E, The Consumer Price Index for the elderly, for determining COLAS because consumption patterns are different for the elderly than for younger persons. The CPI-E takes healthcare costs into account. 

[catter70]

I'm just glad to get something. Will be glad if it covers rising health care costs.

[Peaches McPhee]

My first mortgage in 1989 was 8.6%, and that was a steal, based on some first-time buyer program.  

[LilacTree]

This reminds me . . . . I try to keep a four-figure balance in my checking account.  It always makes me laugh when I see the interest I have earned.  This month it was 5 cents.  I feel like mailing them a nickel and telling them they need it more than I do!