U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-15-2012, 07:14 PM
 
1,932 posts, read 4,614,065 times
Reputation: 1366

Advertisements

So, let's do the math: SS is slated to rise between 1.5 and 1.7%. Medicare part B premiums are slated to rise 9.0%! The SS increase will be eaten up by the Medicare increase for most beneficiaries.

During the last 12 months, I have had significant increases in the following:

car insurance = +5%
health insurance premiums = +9.7%
dental cleaning, exam, x-rays and cost of 2 fillings = +5% each
internet service = +6%
cable TV (basic service) = +6%
gasoline = +15% (from $3.35/gallon a year ago to $3.75 now)
rent = +4%
food increases are off the chart (anywhere from +3% to + 8%)
clothing, shoes = +4%
electricity = +3%

Tell me where the 1.5 - 1.7% COLA increase fits in.
Reply With Quote Quick reply to this message

 
Old 10-15-2012, 07:26 PM
 
71,659 posts, read 71,801,099 times
Reputation: 49251
We are having this discussion in other threads here so we dont want to duplicate it.

In a sentance the larger costs associated with loans ,mortgages and refinancing knocked hundreds of dollars off the monthly nut covering the rises in cheaper items.

The cola only reflects price changes in a basket of goods and services. It may not reflect your cost of living which includes alot more parameters along with price changes
Reply With Quote Quick reply to this message
 
Old 10-15-2012, 07:41 PM
 
Location: Los Angeles area
14,018 posts, read 17,747,361 times
Reputation: 32309
Default We all have such different experiences with cost of living.

Quote:
Originally Posted by xz2y View Post
So, let's do the math: SS is slated to rise between 1.5 and 1.7%. Medicare part B premiums are slated to rise 9.0%! The SS increase will be eaten up by the Medicare increase for most beneficiaries.

During the last 12 months, I have had significant increases in the following:

car insurance = +5% No increase for me.
health insurance premiums = +9.7% No increase for me.
dental cleaning, exam, x-rays and cost of 2 fillings = +5% each No increase for me.
internet service = +6% No increase for me.
cable TV (basic service) = +6% I do not have this.
gasoline = +15% (from $3.35/gallon a year ago to $3.75 now) Yep, gas is up for me too.
rent = +4% My condo is paid off, but we had a $1,000 assessment for major repairs.
food increases are off the chart (anywhere from +3% to + 8%) I have not tried to calculate this.
clothing, shoes = +4% No increase that I have noticed.
electricity = +3% No increase that I have noticed.

Tell me where the 1.5 - 1.7% COLA increase fits in.
Just as an indication about how different people's costs of living can be, I noted my experiences in blue. While I have no rent payment, as a property owner I do get hit with the cost of repairs which can come out of the blue with no warning. Then I can go years with nothing else major. That is just one of those unknowable things.
Reply With Quote Quick reply to this message
 
Old 10-15-2012, 08:52 PM
 
1,932 posts, read 4,614,065 times
Reputation: 1366
Quote:
Originally Posted by mathjak107 View Post
We are having this discussion in other threads here so we dont want to duplicate it.

In a sentance the larger costs associated with loans ,mortgages and refinancing knocked hundreds of dollars off the monthly nut covering the rises in cheaper items.

The cola only reflects price changes in a basket of goods and services. It may not reflect your cost of living which includes alot more parameters along with price changes
Good to know. Where are the other discussion threads on this issue? I'd like to participate. Thanks!
Reply With Quote Quick reply to this message
 
Old 10-15-2012, 08:56 PM
 
1,932 posts, read 4,614,065 times
Reputation: 1366
Quote:
Originally Posted by Escort Rider View Post
Just as an indication about how different people's costs of living can be, I noted my experiences in blue. While I have no rent payment, as a property owner I do get hit with the cost of repairs which can come out of the blue with no warning. Then I can go years with nothing else major. That is just one of those unknowable things.
Definitely different increases depending on one's COL. I have friends who own older houses and repairs can be an unpleasant surprise, as you mentioned. I'm interested to see that your costs have not gone up in the comparable services and goods on my list. I'm in SE MI, and you are in LA. Different parts of the US experience COLA increases differently. I'm in a college town where costs go up all the time. That may account for some of it in my case. Thanks much for the info.
Reply With Quote Quick reply to this message
 
Old 10-15-2012, 09:07 PM
 
Location: Los Angeles area
14,018 posts, read 17,747,361 times
Reputation: 32309
Quote:
Originally Posted by xz2y View Post
Good to know. Where are the other discussion threads on this issue? I'd like to participate. Thanks!
There is a thread entitled, "Ss COLA". Right now it's a little more than half way down page 1 in this (Retirement) forum.
Reply With Quote Quick reply to this message
 
Old 10-15-2012, 09:08 PM
 
1,932 posts, read 4,614,065 times
Reputation: 1366
Quote:
Originally Posted by Escort Rider View Post
There is a thread entitled, "Ss COLA". Right now it's a little more than half way down page 1 in this (Retirement) forum.
Thanks, I'll look for it! A little earlier out there tonight..... 11 pm here.
Reply With Quote Quick reply to this message
 
Old 10-16-2012, 12:35 AM
 
Location: Southwest Nebraska
1,297 posts, read 4,145,232 times
Reputation: 896
Quote:
Originally Posted by xz2y View Post
So, let's do the math: SS is slated to rise between 1.5 and 1.7%. Medicare part B premiums are slated to rise 9.0%! The SS increase will be eaten up by the Medicare increase for most beneficiaries.

During the last 12 months, I have had significant increases in the following:

car insurance = +5%
health insurance premiums = +9.7%
dental cleaning, exam, x-rays and cost of 2 fillings = +5% each
internet service = +6%
cable TV (basic service) = +6%
gasoline = +15% (from $3.35/gallon a year ago to $3.75 now)
rent = +4%
food increases are off the chart (anywhere from +3% to + 8%)
clothing, shoes = +4%
electricity = +3%

Tell me where the 1.5 - 1.7% COLA increase fits in.
Maybe Obama can get you a free phone! That seems to make a lot of people happy.

I am on SSDI and feel your pain also.
Reply With Quote Quick reply to this message
 
Old 10-16-2012, 05:29 AM
 
Location: in the miseries
3,302 posts, read 3,581,865 times
Reputation: 3810
Just wait until Obamacare kicks in! See what you are left with.
Reply With Quote Quick reply to this message
 
Old 10-16-2012, 05:33 AM
 
16,437 posts, read 19,145,278 times
Reputation: 9518
It's a not so obvious way to decrease benefits over time.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top