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If you believe the government numbers, I'm doing OK. I don't believe the numbers, not one bit. If I go by what my gut feel is, I'm losing a little ground each year.
I am starting to understand what they are talking about when people discuss the middle class squeeze. My wife is a perfect example. She works for the government and has been doing the same job for 8 years. Each year she is doing a better job as her skills grow and she gets more eduation and training, but she keeps the same job title. Each year she get a 3.5% merit increase. This is the raise everyone who is considered a good worker gets. While the offical inflation rate is about 4%, most people know the real inflation rate is closer to 7%. So each year she has 3.5% less buying power than in previous years. So in 8 years, since she started her job which requires a Masters Degree, she has lost about 30% in her standard of living.
How about you, do you have a higher standard of living than in 2000? (if you have been working full time since then)
has my wage increase kept up with inflation? Hell to the nah
She got a raise of 3.5%? Be grateful. In the private sector, getting raises is just a memory. Did I mention benifits have also gone the way of the Dinosaur?
Don't you feel lucky...?! I estimate at least 30% loss of my purchasing power since about 5 years ago! If not more... And I get annual "raises" considered to be good... First of all, that's not a raise, but cost-of-living increase and no, it doesn't keep up with real inflation one bit! Many people say they're forced to jump from job to job in order to get a decent increase of salary.
Don't you feel lucky...?! I estimate at least 30% loss of my purchasing power since about 5 years ago! If not more... And I get annual "raises" considered to be good... First of all, that's not a raise, but cost-of-living increase and no, it doesn't keep up with real inflation one bit! Many people say they're forced to jump from job to job in order to get a decent increase of salary.
Lucky? ah, maybe. I get a COL raise every year. Choose your profession and you get the results of that choice.
'purchasing power'? I do not necessarily buy into the math that is used to form that argument. I get raises, I budget my money and I invest. My investments grow at a far higher rate than does inflation. So despite our inflation my Net Worth has grown. I am retired now, and still my investment portfolio is growing. I have no serious issue with our inflation.
She got a raise of 3.5%? Be grateful. In the private sector, getting raises is just a memory. Did I mention benifits have also gone the way of the Dinosaur?
Good salaries, raises and benefits are still there if you're a CEO, competent or not.
They have the ability to define the metrics and the benchmarks by which their compensation is calculated. I read that corporate profits would be 40 percent lower if they reported to the investing public the same information they filed with the IRS.
'purchasing power'? I do not necessarily buy into the math that is used to form that argument. I get raises, I budget my money and I invest. My investments grow at a far higher rate than does inflation. So despite our inflation my Net Worth has grown. I am retired now, and still my investment portfolio is growing. I have no serious issue with our inflation.
Good for you! The FED ought to love ya.
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