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Old 01-14-2011, 01:40 PM
 
Location: Great State of Texas
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If you are on a fixed income then food/fuel increasing has a direct effect on your wallet regardless of government numbers and what they include/exclude.
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Old 01-14-2011, 03:15 PM
 
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Hopefully it is clear to people that being able to successfully retire requires a pool of money that you can grow to offset the cost of inflation and lack of a Cola. You should have at least one years worth of retirement income that you can grow at or above the rate of inflation and use that amount to provide your own COLA.
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Old 01-15-2011, 06:07 AM
GLS
 
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Quote:
Originally Posted by HappyTexan View Post
If you are on a fixed income then food/fuel increasing has a direct effect on your wallet regardless of government numbers and what they include/exclude.
Actually, whether you are on a fixed income or still gainfully employed, increases in food/fuel have a significant influence on every citizen trying to survive. The government trying to ignore escalating grocery costs and the gas it takes to drive to the store, by claiming there is no "inflation" is a hypocritical snake-oil delusion. People might respect government policies more if they were grounded on a practical reality.
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Old 01-15-2011, 07:59 AM
 
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When prices fall Gov't doesn't have a negative inflation and take money from your SS payment. When they go back up to the previous level don't expect a COLA. Gas has been more expensive and folks got a COLA. When it fell the government didn't take the money back. It is still not at previous highs.
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Old 01-15-2011, 10:32 AM
GLS
 
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Quote:
Originally Posted by TuborgP View Post
When prices fall Gov't doesn't have a negative inflation and take money from your SS payment. When they go back up to the previous level don't expect a COLA. Gas has been more expensive and folks got a COLA. When it fell the government didn't take the money back. It is still not at previous highs.
Valid point for gas, but it does not apply to food commodities which reflect historic highs.
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Old 01-15-2011, 11:15 AM
 
Location: O-H-I-O
53 posts, read 192,369 times
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Quote:
Originally Posted by TuborgP View Post
Hopefully it is clear to people that being able to successfully retire requires a pool of money that you can grow to offset the cost of inflation and lack of a Cola. You should have at least one years worth of retirement income that you can grow at or above the rate of inflation and use that amount to provide your own COLA.
Great tip!
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Old 01-15-2011, 11:44 AM
 
31,672 posts, read 40,901,280 times
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Originally Posted by GLS View Post
Valid point for gas, but it does not apply to food commodities which reflect historic highs.
Some commodity prices are and others aren't. But they are offset in a basket with other items that are still low. Part of the problem is when we live off of what we make and not what are life cost. When prices go down do we pocket the difference for a later day?
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Old 01-15-2011, 05:25 PM
 
11,142 posts, read 15,911,992 times
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Quote:
Originally Posted by GLS View Post
Actually, whether you are on a fixed income or still gainfully employed, increases in food/fuel have a significant influence on every citizen trying to survive. The government trying to ignore escalating grocery costs and the gas it takes to drive to the store, by claiming there is no "inflation" is a hypocritical snake-oil delusion. People might respect government policies more if they were grounded on a practical reality.
Quote:
Originally Posted by GLS View Post
Valid point for gas, but it does not apply to food commodities which reflect historic highs.
Yeah, but what's not valid is your contention that the government ignores escalating grocery costs by stripping out food when determining the CPI for Social Security and other purposes. Like many people, you criticize the data without understanding what it means. Although the government reports on "core" inflation (among other data reports), it is not used to determine COLA adjustments. The government uses CPI-W for that determination.

Consumer Price Index Frequently Asked Questions
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Old 05-13-2011, 08:24 PM
 
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1170. x .04 = 46.80 Do the Math ... where do you get 5.00 ... 1170. x 4/100 = 46.80 ... shall I continue ...
so I really doubt that we will be getting a raise ... yeah right ... really?
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Old 05-14-2011, 09:11 AM
 
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to markg91359,just because someone is retired or disabled does not mean they do not deserve a raise.just think about it like this,you work hard for 10 to 15 years and then suddenly you are hit with a disability such as heart problems and you have to start on disability,and imagine that you are renting an apartment at the time.after a few years you find it hard to manage getting in and out of your up stair apartment and your family is cramped up in a 1500 square ft area and you decide it is time to buy a house.then imagine that the mortage payment is the same or a little cheaper than your rent but the bank will not loan you money because you are not employed,trust me it sucks even if you have perfect credit you still cant manage to better your self due to people thinking the way you do.there is people out there thats trying hard to stay above the water despite there disabilities and it gets harder every day when you have no extra money coming in,heck if i had any extra cash flow coming in maybe i could put a little in the bank and be able to save up for a down payment on a small house or a car.i have worked hard all my life and i am only 32 i know that dont sound like much but figure in when i say all my life i mean all my life i was out in the fields throwing bales of hay on a trailer when i was 9 years old and feeding and taking care of at least 150 goats at a time before and after school then when i turned 18 i started a full time job to replace school 10 hours a day 6 days a week,then went into construction and worked 15 hours a day 7 days a week and keep in mind i live in the south and rain days are few and far between and nearing the end of my 10 years of working on the books i had 2 full time jobs i drove an oil truck during the day and was a school janitor at night.after all that my doc told me that all that work could have been a big factor of my condition(not the heart) but the brain i started having seizures at 28.if you dont think people that worked hard like me all there life dont deserve at least 10.00 a month more per year then you have problems
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