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 10-13-2017, 11:46 AM
 
Location: Atlanta
110 posts, read 50,318 times
Reputation: 65

Advertisements

Will those not yet receiving benefits see that 2% reflected in their projected numbers? Will their FRA number increase as well as all other months up to FRA. When would we see this?
Reply With Quote Quick reply to this message

 
Old 10-13-2017, 03:55 PM
 
Location: Northern panhandle WV
3,007 posts, read 2,174,073 times
Reputation: 6696
We stated collecting in January of 2015. My husband was paying Part B plus IRMMA. I just turned 65 In June of this year and after appealing the IRMMA for both of us, we are each paying $134. a month, deducted from out SS payments.
Now from what I have read, the standard payment in 2018 will remain at $134. So we should see all of the 2% increase in SS benefits.
Reply With Quote Quick reply to this message
 
Old 10-13-2017, 04:12 PM
 
71,661 posts, read 71,801,099 times
Reputation: 49256
medicare rates were not announced yet so know one really knows . the projections are a rise in drug plans and a drop in medicare . my drug plan just went in to effect in october when i went on medicare . my wife has no deductible on her older plan . my plan which is the same , now comes with a 400 dollar deductible .
to avoid the deductible i have to jump to the 67.00 a month plan from 38

Last edited by mathjak107; 10-13-2017 at 04:50 PM..
Reply With Quote Quick reply to this message
 
Old 10-13-2017, 05:38 PM
 
Location: Phoenix, AZ
1,708 posts, read 756,991 times
Reputation: 4234
So the government is telling us that the cost of living went up only 2% this year?

Gasoline in my area is up 15% this year.
My last internet service increase was 10%.

I'm sure that the rest of you have your own examples.
Reply With Quote Quick reply to this message
 
Old 10-13-2017, 05:44 PM
 
Location: Los Angeles area
14,018 posts, read 17,747,361 times
Reputation: 32309
Quote:
Originally Posted by adjusterjack View Post
So the government is telling us that the cost of living went up only 2% this year?

Gasoline in my area is up 15% this year.
My last internet service increase was 10%.

I'm sure that the rest of you have your own examples.

A couple of examples mean nothing. Let's take gasoline, which is a very volatile commodity. The price of gasoline is subject to rather extreme fluctuations, both up and down. We tend to be more aware of stuff which has gone up because the increases stick in our mind. Not so much for things which have remained the same or even gone down.
Reply With Quote Quick reply to this message
 
Old 10-13-2017, 05:44 PM
 
71,661 posts, read 71,801,099 times
Reputation: 49256
we have our own examples and we are all different . rents here in nyc for millions have not gone up in 2 years since 1/2 of all housing is stabilized and no increase voted . . i went from a 6000 a year premium for useless health insurance to half that for medicare .

we traded in the jeep and got a new car that gives 2x the mileage .

so as you see the cpi index is only a price change index . it represents no one's personal cost of living . a price change is only one factor of many that determines our own personal cost of living .

Last edited by mathjak107; 10-13-2017 at 05:52 PM..
Reply With Quote Quick reply to this message
 
Old 10-13-2017, 05:45 PM
 
Location: Florida
4,366 posts, read 3,706,500 times
Reputation: 4111
Quote:
Originally Posted by adjusterjack View Post
So the government is telling us that the cost of living went up only 2% this year?

Gasoline in my area is up 15% this year.
My last internet service increase was 10%.

I'm sure that the rest of you have your own examples.
The factors they use are not designed to reflect inflation related to seniors.
Reply With Quote Quick reply to this message
 
Old 10-13-2017, 05:48 PM
 
71,661 posts, read 71,801,099 times
Reputation: 49256
even so , personal cost of living is so different regardless .

a senior with a paid off home or fixed mortgage can see a whole lot less of an effect from inflation than a renter .

many aging seniors do not do or buy as much of the things younger seniors do . what they no longer buy or do can offset much of the rise in costs on what they continue to use and do . younger seniors may see a greater inflation effect until they wind down some things . a much older senior can see costs sky rocketing from healthcare .

you can see ,even to measure seniors is very different person to person . you cannot ever compare personal cost of living with just a price change index .

if you want to talk personal cost of living you have to take the price changes on only the goods and services you personally use and multiply it by how many times you personally buy or use it . then you have to factor in a quality factor . higher quality goods tend to see higher price increases but may last way longer effecting how many times you buy it .

how sensitive you are to substitutes or doing without is another personal factor . grapes may be 4 bucks a pound so i won't buy them i will buy another cheaper fruit . you will have your own list of what you will sub or do without ..

but the cpi is no measure of anyone's actual cost of living . it merely takes the temperature of the 1500 mini economies that make up the country .

Last edited by mathjak107; 10-13-2017 at 06:00 PM..
Reply With Quote Quick reply to this message
 
Old 10-13-2017, 06:01 PM
 
Location: Western Colorado
11,093 posts, read 12,481,863 times
Reputation: 26122
Quote:
Originally Posted by adjusterjack View Post
So the government is telling us that the cost of living went up only 2% this year?

Gasoline in my area is up 15% this year.
My last internet service increase was 10%.

I'm sure that the rest of you have your own examples.
Bacon $9 a pack? What the...?

But gosh, I will enjoy that extra $30 a month on my Social Security (if we get it).
Reply With Quote Quick reply to this message
 
Old 10-13-2017, 07:28 PM
 
4,508 posts, read 2,125,360 times
Reputation: 9532
2%. That's a slap in the face.


Wasn't last year 3%?
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