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Esteemed Contributor
Posts: 5,453
Registered: ‎02-02-2015

Re: No COLA for Social Security


@151949 wrote:

@Silver Lining wrote:

I understand what you're saying, 151949, but what about those who don't drive? There are many elderly people who don't. I know of some who either take a taxi or otherwise pay for transportation to get to their medical appointments, grocery store or pay for deliveries and those costs aren't lowered when gas prices are. Also, some don't have a spouse with whom to share household expenses. Also, through no fault of their own, some people have only SS as income.


 

 

Even in the direst times of my life I always put a small amount of my income aside for my senior years. And, believe me , and due to no fault of my own, I have been through some really bad times financially. People who haven't saved for the future were very foolish and are now paying for it in their senoir years. It would be difficult to live on SS alone , even if you got the max amount - which few do. 

As someone else said - especially if you are on SS - be extremely careful who you vote for because there are those who want to take as much from us as they possibly can. If you think not getting a COLA raise is bad - wait to see what happens if the wrong ones get elected.


It only takes one serious illness to wipe out a lifetime of savings, even with health insurance. 

Respected Contributor
Posts: 3,605
Registered: ‎07-11-2010

Re: No COLA for Social Security

[ Edited ]





I promise to remind myself every day that I am strong, courageous, and resilient.
Respected Contributor
Posts: 4,426
Registered: ‎03-10-2010

Re: No COLA for Social Security


@maestra wrote:

As a single mother who rec'd no help from ex-spouse we lived paycheck to paycheck and I did try to put a little nest egg away. Invested return %'s have been near 0%. Not everyone is as fortunate as 154590 , we lived constantly w/dire times.

 

There but for the grace of God...


Exactly maestra I raised my daughter as a single mom. My ex husband got away with not paying child support. Some have no clue.

Honored Contributor
Posts: 25,929
Registered: ‎03-09-2010

Re: No COLA for Social Security


@Snoopp wrote:

The COLA used to cover the medicare premium increases. Now only 30 percent of the medicare beneficiaries will cover the costs so those with the highest incomes will have to cover the costs as well as those who did not get the premium deducted from SS and those new beneficiaries. 

 

Food, rent, and medical care has all risen by the way.


What are you saying here - it makes no sense. Who is on medicare and not on SS and who on both does not get their medicare deducted from their checks? What about new beneficiaries? Please clarify.

Honored Contributor
Posts: 10,620
Registered: ‎09-22-2010

Re: No COLA for Social Security

I raised two children as a divorced Mom also.  I received no child support and had never worked before the divorce.  I would have qualified for welfare but I took a minimum wage job and over time took a couple of adult eduction classes to make me more employable - I kept moving up the job ladder putting very small amounts away for retirement.  It can be done. 

Honored Contributor
Posts: 25,929
Registered: ‎03-09-2010

Re: No COLA for Social Security

After my husband was killed I was a single Mom raising his children from his first marriage, working  for barely enough to get by after I had to make monthly payments on his medical bills, and his funeral and the loans we had taken out for him to start a business. I could not afford a car so did without one for years, riding the bus to work in the middle of the night, and me & the kids dragging our grocery order home on the bus, and laundry for 3 people to the laundromat.I do know what it is to be poor, so you all go ahead and tell me again all about how fortunate I have been.

Honored Contributor
Posts: 16,233
Registered: ‎03-09-2010

Re: No COLA for Social Security

Actually, it does count, but the law was written years ago on how the COLA should be determined and, if I read this Congress right, they are not about to change that law so those on SS would get more dollars. 

 

You could try contacting your Congressional reps and asking them to work on a change in the law.  I just see very little chance of that happening.  If anything, I expect to see cuts.

Contributor
Posts: 28
Registered: ‎11-18-2012

Re: No COLA for Social Security

The COLA raises may be small, but they can help offset the increase in health insurance/Medicare. You my find the raise insignificant, but others find it helpful.

Honored Contributor
Posts: 25,929
Registered: ‎03-09-2010

Re: No COLA for Social Security

As far as I know medicare has not gone up this year either. I have not received any notification from medicare of an increase in the premium.

Honored Contributor
Posts: 16,233
Registered: ‎03-09-2010

Re: No COLA for Social Security

@DiAnneThe statistics on that are scary-  about a third of those on SS have it as their only income. 

 

I just never quite know who that third is -  some may be married couples who then have two SS's or some may be childtren who have no other income but are within some family structure --but I fear the bulk are old(er) women who were young in an era where women didn't almost routinely work and have a chance to save for their old age.

 

If my fear is true, then there should be some improvement going forward since even those in the babyboomer era, people younger than I am by at least a few years, might well have worked and saved.  They were certainly urged to do that often enough.