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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (1202897)	2/21/2020 6:52:41 AM
From: sylvester80	1 Recommendation Recommended By pocotrader Read Replies (1) \| Respond to of 1578685

My health insurance SKYROCKETED under LIAR tRump 300% in 3 YEARS, you DUMB LYING PHAK.... and SS raises HAVE PLUMMETED under LIAR DUMB PHAK tRump... BOTH ARE A FACT you LYING POS!!!!!

To: Broken_Clock who wrote (1202897)	2/21/2020 6:55:07 AM
From: sylvester80	Read Replies (1) \| Respond to of 1578685

2019's Social Security Raise Was Downright Pathetic, Data Shows What was supposed to be a fairly generous boost in seniors' monthly income wound up falling short in practice. Maurie Backman Feb 13, 2020 at 7:52AM fool.com Each year, seniors on Social Security eagerly await their cost-of-living adjustment, or COLA, which dictates how much of a boost their monthly benefits will get. In 2019, seniors saw a fairly decent 2.8% COLA, which left many a bit more optimistic about their financial prospects, at least at first. But new data from the Senior Citizens League reveals that despite a respectable COLA, most seniors did not receive a substantial boost to their monthly income last year. And that's troubling on so many levels. How much did benefits climb last year?Last year's 2.8% COLA should have, in theory, raised the average benefit of $1,422 all the way up to $1,461, resulting in an extra $39 a month for the typical senior. But according to the Senior Citizens League, 45% of Social Security beneficiaries got a monthly income boost of $10 or less in 2019 after accounting for Medicare Part B premium deductions (those premiums are paid directly from Social Security benefits for seniors enrolled in both programs). Meanwhile, 25% of seniors saw a monthly raise that fell between $10.01 and $25, and only 30% of beneficiaries saw their monthly Social Security income rise by more than $25. IMAGE SOURCE: GETTY IMAGES. This year's COLA could be even less effectiveThe above-mentioned numbers don't bode well for seniors who are heavily reliant on Social Security to stay afloat this year. The COLA going into 2020 was a mere 1.6% -- barely more than half of the 2.8% COLA seniors saw going into 2019. But what's more disturbing is the fact that Medicare premiums rose a lot more in 2020 than they did in 2019. Going into 2019, seniors saw a modest $1.50 increase in their Part B premiums, paying $135.50 a month instead of the $134 they paid in 2018. This year, the standard Part B premium is $144.60, representing a $9.10 jump. Now, if 45% of seniors last year saw their Social Security benefits go up $10 or less per month with a 2.8% COLA and $1.50-a-month Medicare premium hike, it stands to reason that things aren't looking too good for the current year, what with a much larger Medicare increase and a much lower COLA. As such, we're likely to see even more depressing numbers once this year's data is crunched. Making up for a meager raiseSeniors who are heavily dependent on Social Security may need to employ some serious lifestyle changes this year to avoid falling behind on bills. These could include downsizing, moving to a less expensive part of the country, or working part-time to generate income on top of Social Security. Current workers, meanwhile, would be wise to look closely at the numbers above and understand why they underscore the importance of saving for retirement independently. Clearly, Social Security raises aren't all that effective, even during years when COLAs are relatively generous. Those who don't wish to struggle financially during retirement can boost their savings as much as they can, and keep their savings invested in a reasonably aggressive fashion to generate additional retirement income. The purpose of Social Security COLAs is to help seniors retain their buying power in the face of inflation. But clearly, a monthly boost of $10 or less isn't going to do much for the typical retiree. On the other hand, a robust IRA or 401(k) that continuously generates growth in retirement could not only be the ticket to compensating for those measly COLAs, but to long-term financial security.

To: Broken_Clock who wrote (1202897)	2/21/2020 6:56:40 AM
From: sylvester80	Read Replies (1) \| Respond to of 1578685

Will 2021's Social Security COLA Be Similar to This Year's Disappointing Raise?Early estimates indicate it just might. Maurie Backman Jan 23, 2020 at 7:52AM fool.com Each year, millions of Social Security recipients eagerly await news of a cost-of-living adjustment, or COLA. Introduced back in the 1970s, the purpose of automatic COLAs is to help seniors on Social Security maintain their buying power in the face of inflation. But don't misunderstand the "automatic" component involved. Some years, seniors don't actually get a COLA, since raises are based on fluctuations in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). In a nutshell, when the cost of common goods and services increases, Social Security benefits typically go up. When that cost remains stagnant, benefits can stay the same or move upward only slightly (thankfully, they can't go down from one year to the next). Seniors on Social Security saw a 1.6% COLA going into 2020, and many weren't happy about it. That's largely because that raise was only slightly more than half of 2019's 2.8% COLA. The fact that monthly Medicare Part B premiums jumped from $135.50 in 2019 to $144.60 in 2020 only added insult to injury. Most seniors stood to receive a $24 raise thanks to 2020's meager COLA. With Medicare's premium hikes, those paying for Part B lost over one-third of that measly $24. In light of 2020's disappointing COLA, many seniors are hoping for a more generous boost in benefits for 2021. But, unfortunately, early estimates from the nonpartisan Senior Citizens League point to a 1.5% COLA for the upcoming year. That's a notch lower than what seniors received in 2020, and it's certainly not the news Social Security beneficiaries want to hear. Don't get worked up over next year's COLA just yetOf course, the key thing to keep in mind is that today's COLA estimates are just that -- estimates. It's way too early in the year to get an accurate assessment of what seniors' next COLA will look like, and it's important to note that in early 2019, the Senior Citizens League estimated no COLA at all for 2020, when, in fact, it came in at 1.6%. The Social Security Administration won't be announcing next year's COLA until October, and between now and then, a host of new projections might emerge. Still, seniors who are dependent on Social Security shouldn't bank too heavily on a raise for 2021 -- not only because that 1.5% estimate could change for the worse, but also because COLAs themselves generally aren't life-changing. The average senior today collects $1,503 a month in benefits, so a 1.5% COLA translates into an extra $22.55, or $270.60 per year. But if Medicare premiums go up a lot, much of that raise will be wiped out. Thus, those who are heavily reliant on Social Security and already struggling financially should take steps to improve their financial picture by making strategic choices -- cutting back on expenses, downsizing their homes, or relocating to less expensive corners of the country. Engaging in part-time work is another key step for cash-strapped seniors. Generating job-related earnings is a far more effective means of boosting retirement income than sitting back and awaiting a COLA -- a COLA that may, once again, prove disappointing.