Destruction of Retirees | Housing,Taxes, Insurance, Medical Care and Supplementing Expenses of 'Adult' Children

Title: Have Your Property Taxes and Insurance Ballooned? You’re Not Alone. Here’s Why These Costs Can Exceed Mortgage Payments For Many

Article Snip: "...Variable costs like property taxes and homeowner’s insurance premiums comprise 35% of the average monthly mortgage payment. ...Property taxes and homeowner’s insurance premiums continue to take a big chunk out of homeowners’ monthly mortgage payments. To offset these costs, homeowners are implementing various solutions, including downsizing, relocating, cutting back on expenses, and deferring large purchases. These efforts could help make homeownership more affordable for many homeowners."

Reference: www.investopedia.com
Destruction of Baby Boomers,Destruction of Retirees,

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The rare few boomers that worked hard and made sacrifices to pay off mortgages reap the rewards now, but many did not prepare

Title: The boomer housing crisis is pacing to get even worse

Article Snip: "...Many boomers find themselves aging into a system that is not willing or equipped to care for them, and instead struggle to subsidize their own care while facing an affordability crisis.

In 2021, 11.2 million seniors—about one in three—were cost-burdened, spending more than 30% of their income on housing...“The senior housing industry would need to develop twice as many units as it has ever developed in any single calendar year every year to keep up.” What’s more, the early pandemic pulled the brakes on the housing industry, as leaders tell the Journal of labor shortages and weakened demand. ..."

Reference: fortune.com
Boomer retirement planning, Senior housing industry, Aging at Home (The Greatest Desire of Retirees),

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Social Security Announces 2.5 Percent Benefit Increase for 2025

Title: Social Security Announces 2.5 Percent Benefit Increase for 2025

Article Snip: "...Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 million Americans will increase 2.5 percent in 2025, the Social Security Administration announced today. On average, Social Security retirement benefits will increase by about $50 per month starting in January. ...Over the last decade the COLA increase has averaged about 2.6 percent."

Reference: www.ssa.gov
Lower Than Average COLA increase, How is inflation so high but COLA is below average, Bankrupting of Social Security Recipients,

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