Community Chat

[ALRATIBA]

2021 Social Security is exactly what I estimated.   A bit of an increase.

[pdlinda]

Same here.  Received notice today.  I, too, received a very minimal increase.  I'd really like to see how they compute the COLA (based upon the rate of inflation). All my basic bills have gone up this year, most especially my electric bill.

[SeaMaiden]

My increase was about 12 dollars

[Annabellethecat66]

I received a letter from Social Security notifying me next year I’ll be receiving over $400 less every month.

I worked for the government.  When my daughter was born, I quit work and never went back.

The money I get is from my late husband’s.

I asked my daughter why I was getting less and she said it was because my investments made a lot more money, so they reduced the amount.

I’m lucky in that I don’t need it to live on.

However, I know there are people who are expected to live on Social Security money.

How in the world are people supposed to live on $2,000 per month?

[ALRATIBA]

Social Security was never meant to be someone's sole income.

It's just one leg of a "three-legged stool."

Savings

Retirement 

Social Security

I worked and saved until I was 68 to so I had enough savings to be "comfortable."

[pdlinda]

@Annabellethecat66  Just a FYI, there are many people (fortunately, not me) who live on less than $2K/month.  Many, from what I know, are able to live with family so they scrape by but it's not easy!

[proudlyfromNJ]

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@Annabellethecat66 wrote:

I received a letter from Social Security notifying me next year I’ll be receiving over $400 less every month.

I worked for the government.  When my daughter was born, I quit work and never went back.

The money I get is from my late husband’s.

I asked my daughter why I was getting less and she said it was because my investments made a lot more money, so they reduced the amount.

I’m lucky in that I don’t need it to live on.

However, I know there are people who are expected to live on Social Security money.

How in the world are people supposed to live on $2,000 per month?

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@Annabellethecat66  That's a good question. Mine was raised to $1400.00 and then after that taking out $148.00 for Medicare. Doesn't leave me much does it? I'd take the $2,000.

[Sooner]

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@Annabellethecat66 wrote:

I received a letter from Social Security notifying me next year I’ll be receiving over $400 less every month.

I worked for the government.  When my daughter was born, I quit work and never went back.

The money I get is from my late husband’s.

I asked my daughter why I was getting less and she said it was because my investments made a lot more money, so they reduced the amount.

I’m lucky in that I don’t need it to live on.

However, I know there are people who are expected to live on Social Security money.

How in the world are people supposed to live on $2,000 per month?

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@Annabellethecat66 Hand to mouth sometimes.  Sometimes through a charity, clothes from the Salvation Army, eat beans and bologna and peanut butter sandwiches on store brand white brand, not having your own home, not having or doing what so many take for granted.

Scrape by with a job without benefits, live in a shack and pay too much for it, forgo dental appointments, eat cheap fast food, etc.  

And live where most of us never see you in small towns or the country where the big charities don't know you exist and if you are lucky the church might help you.  You are what people used to call poor trash, and now they mostly don't call you anything because they don't know you exist.  

There is poor, and then there is REALLY poor.  And that's a big difference.

[NicksmomESQ]

@Annabellethecat66   Why would SS reduce your check by $400 a month because your investments made money? That confuses me. Your SS is based on your or your husbands earnings during your working years. It has nothing to do with your bank account or your investments.

   Would you mind elaborating? Thanks.
    

[Mindy D]

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@ALRATIBA wrote:

Social Security was never meant to be someone's sole income.

It's just one leg of a "three-legged stool."

Savings

Retirement 

Social Security

I worked and saved until I was 68 to so I had enough savings to be "comfortable."

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@ALRATIBA @It might have been the original idea but it hasn't been the reality in years.