Community Chat

[Moonlady]

I think that's sad, because seniors have taken the economic downturn on the chin, especially with the artificially low interest rates which impact conservative (often seniors) investors most.

BTW, it would be nice if we had a "Finance" board here.

[fortune]

I agree, Moonlady!!! Pretty soon, we'll have to pay the banks to hold our money!!!!!

[qvcaddition]

How they can say the cost of living has not gone up is beyond crazy. Some of us Seniors do not have retirements, I for one. It's like the medical field, cut the Seniors, they are old and going to die soon anyway. That is the attitude. You better be wealthy when you are my age, 78, or you are scre---ed. I am going through saving now, interest very, very poor, so principal is getting hit. What about the people that have none saved and live just on SS.

Doesn't make sense. I heard we don't have to buy brand name or good healthy food, just shop at the cheap places where the Veg. and fruit are almost at the overripe stage. Many years ago, I knew a man who sold and delivered veg. and fruits to the supermarkets. He said, the supermarkets in the upscale areas got the cream of the crop and he showed me, and the less fortunate areas the almost overripped or getting that way. Money talks, and bull---s--walks. I am getting so tired or the old and poor getting the shaft, while all the politicians talk a good talk, but nothing ever done. When there are cuts, it the poor or old.

[adelle38]

moonlady,

Where did you get that information from? I haven't seen any news about it.

[tansy]

On 5/31/2014 adelle38 said:

moonlady,

Where did you get that information from? I haven't seen any news about it.

It's not definite yet, adelle.

[Moonlady]

adelle38, I was listening to the talking heads on TV this morning, and one of them stated that. Then I checked the web and found a few sites that said the same thing. Here's one:

http://quinnscommentary.com/2014/04/08/2015-social-security-cola-dont-count-on-any-increase/

[LilacTree]

I am a recipient of SS and it doesn't matter to me whether there's a COLA or not because even when there is, it is mostly used up by the increase in Medicare premiums. We wind up netting about 1% of the total COLA.

[Moonlady]

On 5/31/2014 Ford1224 said:

I am a recipient of SS and it doesn't matter to me whether there's a COLA or not because even when there is, it is mostly used up by the increase in Medicare premiums. We wind up netting about 1% of the total COLA.

Not for those who were "grandfathered."

[151949]

I would imagine it would be extremely difficult to get by on SS alone. That said - those who are retired and have savings to fall back on have that because we did without other things for many years and saved saved saved so we would have a comfortable retirement. Since i worked for a non profit (hospital) I never had the advantages of a 401K and matching funds so many get , so my DH paid in the max to his 401k and we took advantage of his employers very nice matching while we used my income to pay the bills each month. We frequently had to practice "use it up or wear it out before you buy anything new' economics

Certainly, it is a better idea to have your saving in an investment acct not just a savings acct. We have a financial advisor who has advised us to keep only a small portion in the stock market and has us mostly invested in municipal bonds. we are doing well with that - we take a monthly stipend which allows us to live comfortably and yet our savings continues to grow slowly.

While it is nice to get small increases in our SS when they have a COLA raise - I would never count on that happening - and honestly, even when they happen, they are very small.

[LilacTree]

On 5/31/2014 Moonlady said:

On 5/31/2014 Ford1224 said:

I am a recipient of SS and it doesn't matter to me whether there's a COLA or not because even when there is, it is mostly used up by the increase in Medicare premiums. We wind up netting about 1% of the total COLA.

Not for those who were "grandfathered."

Really? I've been collecting since 2003, am I "grandfathered?" Seriously, I didn't know this.