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The average COLA increase is 4.3% annually, and on $1,500 that works out to $5,300 in 2048.
LOL
Sure, if you include the hyper inflationary period of the 70s and early 80s. But since we're looking forward 30 years, let's take a look back at the last 30 years as well. In the past 30 years, there have been exactly three COLAs that were 4.3% or higher, and two of those were more than 25 years ago. Here is a year-by-year look at what they've been:
What makes them so deserving? The fact that they live at taxpayer expense because they failed to plan for their eventual retirement? Maybe I missed something. But one thing I didn't miss was planning for my future.
My father did plan for his retirement and the rug was pulled out from under him. He was canned after 29 1/2 with the same company and didn't get his pension. Well, the lawyer he hired got him 25% for 3 years. The scum bag handling his investments liked nice things, so dad never saw that money again. The guy spending time in federal prison didn't quite make up for the loss. The stress of all this caused him to have a massive heart attack. It took nearly two years for disability to come through. Mom, who had been working part time, had to find full time employment. Thankfully, dad had some money in his savings account and a very healthy emergency fund.
Whew! We made it, but that was the end of, "You'll never have to worry because I've planned for this." It nearly wiped us out. Everything was different after that.
I would like to comment on welfare in general .....I am in my 60's and to me welfare was invented to provide only temporary assistance ....to be a safety net for those who suddenly experience a severe hardship resulting in interruption of income....
But what has happened in my opinion is the welfare system, like most good intentions government programs, has been allowed to be greatly abused.....today I feel many look at being on welfare as a life style.....there seems to be many young kids today who have never seen a parent who needed to leave the apartment or home to go to a real job......Welfare has become a way of life for many and they expect it to last a life time...but no politician that I know has the nerve to do something about the abuse of the system....
But hopefully things will start to change as I recently heard of a work requirement to be attached to those receiving medicaid....this is a good start ...those over a certain age as well as the disabled will not be affected by the work requirement in order to obtain or keep medicaid but there are many ages 20 - 40+ on welfare who could go to work tomorrow if they were forced to or face possible criminal fraud charges resulting in real jail time upon conviction..
We need to get people here in the states out of the state of mind that being on welfare is a life style and let's get back to it being what it was intended for....a safety net for a temporary interruption of income...
Sure, if you include the hyper inflationary period of the 70s and early 80s. But since we're looking forward 30 years, let's take a look back at the last 30 years as well. In the past 30 years, there have been exactly three COLAs that were 4.3% or higher, and two of those were more than 25 years ago. Here is a year-by-year look at what they've been:
You know how much its going to be, so learn to live within that constraint. Retirement should not come as a surprise to anyone.
It's not a safety net. It is insurance, and you paid the premiums, and you are the beneficiary of the policy when you become the casualty, namely, a senior who can no longer be expected to be a fully productive worker. You DID save for your retirement, in the form of your social security premiums during your lifetime. It is yours. Nobody gets the "welfare" of it without paying -- the government made sure everybody paid. Why do so few people understand this simple principle?
If you pay insurance premiums on your house, and it burns down, and you collect the insurance, is that "welfare" that is paid only to irresponsible losers? Or do you have so much pride, you refuse to claim it? Or do you go bare, and not insure your house, saying you don't need the safety net?
I would like to comment on welfare in general .....I am in my 60's and to me welfare was invented to provide only temporary assistance ....to be a safety net for those who suddenly experience a severe hardship resulting in interruption of income....
But what has happened in my opinion is the welfare system, like most good intentions government programs, has been allowed to be greatly abused.....today I feel many look at being on welfare as a life style.....there seems to be many young kids today who have never seen a parent who needed to leave the apartment or home to go to a real job......Welfare has become a way of life for many and they expect it to last a life time...but no politician that I know has the nerve to do something about the abuse of the system....
But hopefully things will start to change as I recently heard of a work requirement to be attached to those receiving medicaid....this is a good start ...those over a certain age as well as the disabled will not be affected by the work requirement in order to obtain or keep medicaid but there are many ages 20 - 40+ on welfare who could go to work tomorrow if they were forced to or face possible criminal fraud charges resulting in real jail time upon conviction..
We need to get people here in the states out of the state of mind that being on welfare is a life style and let's get back to it being what it was intended for....a safety net for a temporary interruption of income...
I agree. I think that having welfare as a part of your retirement plan is reprehensible.
If you’re talking House, is that section 8? I was answering about the subsidized low income senior apartments, with rents at 1/3 your income. Section 8 is a different animal.
It is a subsidized housing apartment complex in Northern California. She pays 30% of her rent.
They take all ages of folks there so that may be the difference. It isn't a Senior Complex
I just moved up to northern maine myself, most people posting on this thread lack the self sufficiency required here.
The local culture here is big on independence and self-sufficiency, that is why life is so inexpensive here.
Quote:
... They cannot imagine life outside what I call the rat race, i came from the uk in 68 as an idiot socialist , dependant on gvmnt to do everything.
I owned a home in the UK in the 1980s. It was interesting to live among so many government programs and subsidies. Totally amazed at how high the taxes for everything were.
I have friends here who migrated to the US for 'medical tourism' waiting lists that are many years long to get treatment was not what they wanted so they had to come to the US.
Quote:
... I slowly learned life skills, fixing my own car, welding and construction, I was a baker so there was nothing in my work that contributed to that.
We bought a very nice house on 1 acre with apple trees for under 50k , in Boston that would easily cost 250-450k. So far I've had to change 2 lightbulbs and run the snowblower up the driveway, that's it.
Low taxes, low everything.
This certainly is 'the life'
Quote:
... Buy my eggs from the farmer next door. Food from the Amish store, should anyone think food is expensive here...
Early this evening we went to a Buyer's Club where we sell our pork products and honey. Everyone loves organic pork
It is interesting to see so many Amish and Mennonites moving to this area, to take advantage of the cheap land prices.
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