According to the Motley Fool

G

GeorgiaXplant

Well-known Member
Location
Georgia
those of us who get SS checks shouldn't look for much by way of an increase in COLA this year. I can't remember the last time we did get much of an increase so it doesn't bother me; I just look at it as more than nothing. My SS is a pretty healthy sum, but for people who get very little, it has to be disheartening.

Motley Fool says that the COLA is based on inflation for the months of July, August and September. What? Did TPTB arbitrarily decide that just those three months should be taken into consideration? Seems to me that a more reasonable approach would be all 12 previous months. But what do I know?
 

It never seems to matter for me on my Social Security pension, even when I do get the cost of living increase. Mine is only a little over $400 per month anyway, so even when they give me an increase, it does't amount to very much.
Plus, then they take it out of my food stamps; so what good does it do in the long run ?

Do they think if they give me a little more money because electricity has gone up, that I now need less groceries ? ?
 
Government logic, HFL!

My mother was an amputee and had CHF. The food stamp office insisted that she come in every three months to be re-certified. I guess they thought either her leg would grow back or that there would be a miracle cure for CHF. Or both.
 

GeorgiaXplant said:
those of us who get SS checks shouldn't look for much by way of an increase in COLA this year. I can't remember the last time we did get much of an increase so it doesn't bother me; I just look at it as more than nothing. My SS is a pretty healthy sum, but for people who get very little, it has to be disheartening.

Motley Fool says that the COLA is based on inflation for the months of July, August and September. What? Did TPTB arbitrarily decide that just those three months should be taken into consideration? Seems to me that a more reasonable approach would be all 12 previous months. But what do I know?
Click to expand...

http://www.ssa.gov/oact/cola/latestCOLA.html
 
They say that unless prices jump significantly in September that the COLA would most likely be more than last year, but less than 2%, so I'm guessing perhaps another 1.7% year. I haven't taken my SS yet so the COLA is adding to the dollars I was estimated at getting. I read that the estimates they give you on the statements when they were sending them out were pretty accurate if you were close to FRA. My calculations/estimations have me doing fairly well in another 2 years (age 70) when I plan on taking it.
 

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