Preliminary SS increase amount for January 2024 (pension, state, coverage, retirees)

[NYgal1542]

From past experience, i try not to count my chickens until they are hatched.

BEEN STUNG TOO MANY times computer needs coffee

[marino760]

Originally Posted by NYgal1542

From past experience, i try not to count my chickens until they are hatched.

BEEN STUNG TOO MANY times computer needs coffee

I'm counting my chicken at 2%. If it comes in higher, that's fine. In the slim chance it's lower, not a big deal.

[villabella22201]

Originally Posted by marino760

I'm counting my chicken at 2%. If it comes in higher, that's fine. In the slim chance it's lower, not a big deal.

Yeah, I'm not even thinking about it really. Reality will come soon enough.

[evening sun]

It seems to me, than any raises get eaten up by higher prices on everything, so it's a wash.

[johnsonkk]

Weird that many money markets and basic savings accounts are offering 5% or more yet COLA is coming out (computed) at just 2%.

Auto loans are almost all at 10% or higher unless credit is sparkling. Mortgage rates? Ugh. Fed will determine if rates go up again next week.

[ddeemo]

Originally Posted by evening sun

It seems to me, than any raises get eaten up by higher prices on everything, so it's a wash.

That is the whole point of these increases - offset the higher prices so that will not get unduely impacted by inflation. It is supposed to be somewhat of a wash.

[LSLover]

Latest estimate published today:

https://www.marketwatch.com/story/th...=mw_latestnews

[Mircea]

Originally Posted by skeddy

way too far out to predict this.

Not really. It's 13 points higher than this time last year and 6 points higher than August 2022.

Interest rates have no effect on Demand-pull or Cost-push Inflation which is what is driving prices. What is driving prices is higher fuel costs, plus increased costs for fertilizers, pesticides, and herbicides made from natural gas, and a back-log at ports, and warehouses/distribution centers are not at pre-STUPID-19 levels. There's some localized Wage Inflation (not affected by interest rates) driving up rents and hospitality costs in some areas.

Supply chain issues are slowly being resolved which will temper Demand-pull Inflation but you're not going to see sudden rapid decline.

Originally Posted by ddeemo

That is the whole point of these increases - offset the higher prices so that will not get unduely impacted by inflation. It is supposed to be somewhat of a wash.

Yes, indeed. I find it amusing some people think they're supposed to profit from Social Security.

[mathjak107]

or amusing they think ss increases are actually supposed to match their personal cost of living

[volosong]

Got a really strange one in the mail today. It's a standard "United States Treasury" check for an amount a handful of dollars less than $1,600. Nothing else was in the envelope. No explanation sheet. The only indication of what it could possibly be is a note in the lower left corner saying "SOC SEC FOR INS". Any idea why I got such a check from the government?