Article Snip: "For most retired Americans, Social Security is more than just a monthly check. It represents a financial foundation that helps them make ends meet. ...CPI-W, shelter and medical care services inflation respectively hit 3.8% and 3.4% on a trailing-12-month basis, ended June 2025. As long as the prevailing rate of inflation for these two critical spending categories remains higher than the COLA beneficiaries receive, the purchasing power of a Social Security dollar seems destined to decline.
But this is just one of two ways retirees appear set to lose in 2026.
In addition to key expense categories rising at a brisk pace, the Medicare Part B premium is projected to soar ...
"
Saturday, August 2, 2025
Retirees Being Destroyed | Social Security's 2026 Cost-of-Living Adjustment (COLA) Is Shaping Up to Be a Lose-Lose Scenario for Retirees
Wednesday, July 16, 2025
Social Security 2026 COLA estimated at 2.7%, but much of it will go to Medicare Part B
Title: Social Security 2026 COLA estimated at 2.7%, but much of it will go to Medicare Part B
Article Snip: "...A cost-of-living adjustment, or COLA, is meant to help Americans keep up with inflation so they can maintain their standard of living year to year. But the hikes are falling short, especially when Medicare premiums, alone, are rising at a faster clip, seniors say. That happened in 2025 and is set to do so again next year. ...Medicare Part B costs are rising several times faster than its average rate of increase in recent years. ..."
Reference: www.usatoday.comTuesday, June 17, 2025
Nationwide finds Medicare myth on long-term care could cost Americans dearly
Title: Nationwide finds Medicare myth on long-term care could cost Americans dearly
Article Snip: "...Based on its 2025 Nationwide Retirement Institute Long-Term Care survey, the insurance giant found 58% of adults believe Medicare will cover long-term care costs, despite the program offering only limited, short-term assistance. ...At-home care is a preferred option for many: 77% of respondents said they would rather age in place. But that may be easier said than done. More than four in 10 believe their current home is unsafe or inaccessible for older age, and nearly half say making the necessary retrofits to their residence would be unaffordable."
Reference: www.investmentnews.comTrump’s New Tax Plan Could Cut Key Deductions for Seniors on Social Security
Title: Trump’s New Tax Plan Could Cut Key Deductions for Seniors on Social Security
Article Snip: "...For seniors who depend primarily on Social Security and limited retirement savings, this change could result in a higher effective tax burden, despite broader cuts elsewhere in the bill.
Key points include:
Low-income seniors could lose tax relief if the elimination of the extra deduction isn’t offset elsewhere.
Social Security benefits are taxable above certain income thresholds, meaning more income may now be exposed to taxation.
Seniors with modest part-time work, annuities, or pensions may see a noticeable increase in tax liability.
..."
Reference: www.fingerlakes1.com
Friday, June 13, 2025
Trump Screws Americans, Deciding to Protect Corporations and Illegals | Car Salesman Bait and Switch
Trump Screws Americans, Deciding to Protect Corporations and Illegals | Car Salesman Bait and Switch
Title: Trump's Biat and Switch
So Trump campaigned on two big promises. One was illegal immigration and the other was exempting seniors from paying taxes on Social Security pensions. He already broke his promise to seniors who voted for the greatly needed 'no taxes on Social Security' with lame excuses. Now, he is renegeing on his number one promise to deport illegals that entered the country illegally, originally calling them criminals. Now he is going to reward corporates farms, the hospitality industry, chicken processors, construction companies and more. He is rewarding these corporations, companies, and businesses who illegally hired these illegals by allowing them to retain the illegal criminals who stole jobs from American citizens, and promising to make the illegal criminals citizens. He is proving to be nothing but exactly what the Democrats are. He is proving to be nothing but a shyster car salesman pulling a bait and switch on those that voted for him. Our guess is that his businesses have also employed illegals and is helping himslf as well. He is also insulting all of law enforcement, the National guard and military that have supported him through the violent riots, as well as being doxed by simply supporting the eradication of these illegals. This is just disgusting to be duped by Trump and the Republicans that permit this. At least he has convinced citizens that have worked hard and followed the law, that crime does pay. Thanks for embarrassing and making fools of us all that are trying to raise our children to be good people and follow the law you sorry POS!. It's a whole lot more difficult to follow the law than to be a criminal. Thanks for setting the example for a changed America. Thanks for bankrupting senors in retirement and abandoning veterans and all America loving citizens. NOTE: If the media reporting of Trump's change is false, we retract our comments. However, due to the fact he lied on his Social Security Tax promise, we feel the turn-around is probably true.
Reference: The Federal Retirement NewsSaturday, March 15, 2025
Disgusting! | Have Social Security Pensioners and Disabled Vets Been Shammed Out of the DOGE Dividend $5,000?
Title: Low-income Americans might not get DOGE benefits
Article Snip: "...to receive $5,000 each. Importantly, the rebate would be sent only to households that are net-income taxpayers — people who pay more in taxes than they get back — with lower-income Americans not qualifying for the return. According to the Pew Research Center, most Americans who have an adjusted gross income of under $40,000 pay effectively no federal income tax. ..."
Reference: www.nbcnews.comSunday, March 2, 2025
President Trump's Potential Changes for Social Security So Far: 3 Things You Should Know
Title: President Trump's Potential Changes for Social Security So Far: 3 Things You Should Know
Article Snip: "As recently as Feb. 18, Trump promised not to cut benefits. ...subject to income taxes on Social Security. The rule is based on combined income, which the Internal Revenue Service defines as half of a retiree's Social Security benefits plus other income from sources such as pensions, wages, dividends, and capital gains.
Single filers can see as much as half of their Social Security benefits taxed if they make between $25,000 and..."
Thursday, February 13, 2025
Destruction of Retirees | Housing,Taxes, Insurance, Medical Care and Supplementing Expenses of 'Adult' Children
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.comSunday, January 5, 2025
Baby boomer homeowners fear losing their properties as they spend down their savings
Title: Baby boomer homeowners fear losing their properties as they spend down their savings
Article Snip: "...Many baby boomers are struggling with rising home repair costs, insurance premiums, and property taxes while also facing a scarcity of affordable retirement housing options. And working all their lives isn't enough to prevent a growing number of older people from experiencing homelessness.
Rising rents and home prices, largely caused by a housing shortage and other cost-of-living spikes, are hitting older adults especially hard. Overall homelessness surged to its highest level on record..."
Thursday, November 21, 2024
Here’s How Much Grocery Prices Have Increased for Retirees in Every State
Title: Here’s How Much Grocery Prices Have Increased for Retirees in Every State
Article Snip: "...GOBankingRates reviewed the 2013 and 2023 cost-of-living index for groceries to find the average national grocery expenditure cost for retired individuals. The Bureau of Labor Statistics CPI Inflation Calculator was then used...Alabama Grocery cost for 65+ in 2023 (using 2023 $): $7,830.20"
Reference: yahoo.comSaturday, September 21, 2024
Social Security COLA 2025: Retirees Should Be Prepared for Bad News and More Bad News
Title: Social Security COLA 2025: Retirees Should Be Prepared for Bad News and More Bad News
Article Snip: "...The Bureau of Labor Statistics will release September's CPI-W information in early October, and the SSA is expected to announce the COLA based on that data later in the month. Until then, we won't know exactly what the adjustment will look like. However, some experts are already making predictions, based on inflation data so far this year. Analysts at advocacy group The Senior Citizens League, for example, estimated in mid-September that the 2025 COLA will be 2.5%...."
Reference: www.fool.comSaturday, August 3, 2024
The Democrat Years | Retirees' Social Security checks have lost significant buying power
Title: Retirees' Social Security checks have lost significant buying power since 2010, a new report says
Article Snip: "...Retirees would need, on average, a $370 monthly boost in their Social Security checks to make up for a 20% loss of buying power since 2010.
That means today’s average monthly benefit of $1,860 for retired workers would need to rise to about $2,230, according to a new report from the Senior Citizens League, a nonpartisan group.
The spoiler: inflation.
...common senior household expenses such as car insurance, food, out-patient hospital care, and housing rose much more than that.
“The reality is that COLAs have become less and less likely to match inflation over time,” Benton said. “In the 1990s and 2000s, 60% of COLAs beat inflation. In the 2010s, only 40% did. Through the 2020s so far, only one COLA out of five—the 8.7% increase in 2023— has done so.”"
Monday, July 29, 2024
Balancing a fixed income with inflation, a Georgia retiree feels stuck
Title: Balancing a fixed income with inflation, a Georgia retiree feels stuck
Article Snip: "... Retired and taking care of her husband, Breland has seen rising prices for everything from groceries and utilities to insurance and home maintenance eat into her fixed income. She has also seen her friends struggle with inflation, as well, through the church she volunteers at. ... increasing financial pressure and has been looking to cut her monthly expenses in the face of rising prices for groceries, utilities, insurance and home maintenance. “All the money I will ever have come in is what I have now,” she said."
Reference: www.nbcnews.comThursday, July 11, 2024
Bankrupting Social Security Retirees | This Is the Average Social Security Benefit for Age 62
Title: This Is the Average Social Security Benefit for Age 62
Article Snip: "...The average retired worker who collects Social Security receives a monthly benefit of $..."
Reference: www.fool.comThursday, July 4, 2024
I Used to Think It Was Possible to Retire on Social Security Alone. Here's Why That's Definitely No Longer My Plan.
Article Snip: "I can admit that there was a time when I thought it was possible for a person to retire comfortably on Social Security without any other source of funds. ...But relying on Social Security alone to cover your budget in retirement is a horribly bad mistake. And I'm grateful that I learned that years ago so I could switch gears on my long-term financial planning. My new game plan Even though I've only been writing about Social Security for about 10 years now..."
Reference: www.aol.comMonday, July 1, 2024
Biden’s Medicare Advantage Cuts May Come Back To Haunt Him
Title: Biden’s Medicare Advantage Cuts May Come Back To Haunt Him
Article Snip: "President Joe Biden’s move in April to cut Medicare Advantage benefits for seniors may come back to haunt him. ...The Biden administration in April finalized plans to cut MA benefits, which experts said could lead to an additional $33 a month for out-of-pocket costs, or $396 a year, for enrollees. Critics of the cuts said they would be especially devastating to seniors living on fixed incomes who are already coping with ongoing inflation issues. ..."
Reference: dallasexpress.comFriday, June 14, 2024
The Numbers Don’t Lie: Americans’ Purchasing Power Is Down Under Biden
Title: The Numbers Don’t Lie: Americans’ Purchasing Power Is Down Under Biden
Article Snip: "...Since taking office in January 2021, the cumulative rate of inflation as measured by the Consumer Price Index, a figure calculated by the federal government’s Bureau of Labor Statistics (BLS), stands at 19.4 percent. On the other side of the equation, the increase in average weekly earnings, also calculated by BLS, stands at 14.1 percent. In other words, since Biden entered the Oval Office, real wages are down about 5 percent. Such is why the number one concern among Americans heading into election season is the high cost of living. According to Gallup, the vast majority of likely voters cite the “economy in general” and the “high cost of living/inflation” as the “most important problem facing the country today.”..."
Reference: townhall.comTuesday, May 21, 2024
What Risks Do Near Retirees and Retirees Face from Inflation
Title: What Risks Do Near Retirees and Retirees Face from Inflation
Article Snip: "...High inflation tends to harm older households, but the size of the impact varies due to three factors: the extent to which income and assets...retirees are hurt more than near retirees as, outside of Social Security, their income is less indexed to prices and they hold less debt. ..."
Reference: crr.bc.eduWednesday, May 8, 2024
Social Security isn’t keeping up with inflation. That could weaken Biden’s support among some seniors
Article Snip: "...cope with the runaway inflation of earlier this decade and the continued high prices for food, housing, utilities and other necessities.
That’s forcing more of them to spend their emergency savings, carry debt on credit cards or apply for assistance programs, according to The Senior Citizens League, a nonpartisan public education and advocacy group. ...senior citizens are often in a more difficult predicament because many live off fixed incomes. Many depend heavily on Social Security – some 42% of elderly women and 37% of elderly men rely on the monthly payments"
Tuesday, January 23, 2024
The Biden Years | The US may have tiptoed around a recession last year, but it won't be so lucky in 2024
Article Snip: "...careful look at the labor market now will suggest that hiring has just ground to a halt...The problem is that the Fed badly misread how long high inflation would linger...In December, the core inflation print notched an annual 3.2% increase. "They've never missed in that direction by that magnitude ..."
Reference: www.businessinsider.com