The Social Security cost-of-living adjustment (COLA) for 2023 will be announced on Oct. 13, 2022.

[Chomsky]

The official figure will be announced on Oct. 13, 2022, but several experts have already forecast big numbers. For instance, the Committee for a Responsible Federal Budget says benefits could rise between 8.5% and 9% next year. That would be the biggest COLA since 1981.

Social Security's 2023 COLA: What Retirees Must Know | The Motley Fool

The Social Security cost-of-living adjustment (COLA) for 2023 will be announced on Oct. 13, 2022.

www.fool.com

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If you collect, keep your eyes open tomorrow!

 

[Chillfolks]

I predict no matter what the adjustment it will not keep up with inflation

 

[Moon]

I predict no matter what the adjustment it will not keep up with inflation

Agreed.

 

[Chomsky]

I predict no matter what the adjustment it will not keep up with inflation

Fair enough.

The difficulties for many on SS is they spend the bulk of their income on items that were highly inflated (ex: food).

 

[Bullseye]

Social Security's 2023 COLA: What Retirees Must Know | The Motley Fool

The Social Security cost-of-living adjustment (COLA) for 2023 will be announced on Oct. 13, 2022.

www.fool.com

--

If you collect, keep your eyes open tomorrow!

I'm baking a cake and buying party decorations!
Serious question: Have you seen anything on raises for our military? After the Army's belly flop on recruiting this year and the other services having to draw down their delayed entry pool we could be in deep in maintaining a capable military.

 

[Chomsky]

I'm baking a cake and buying party decorations!

But hey, an extra 100+ bucks a month adds-up over a year. I wouldn't turn my back on it!

Serious question: Have you seen anything on raises for our military? After the Army's belly flop on recruiting this year and the other services having to draw down their delayed entry pool we could be in deep in maintaining a capable military.

Nope, but I don't follow it.

But that's always been the way with military - recruitment rises & falls inverse to civilian employment trends.

I'd argue though the biggest military draw might be the education & retirement bennies, not the pay. That, and if you're a young person facing housing issues Uncle will put you up!

 

[Chillfolks]

Fair enough.

The difficulties for many on SS is they spend the bulk of their income on items that were highly inflated (ex: food).

I remember the sorties of seniors eating dog foo, hopefully it’s not that bad this time

 

[Mycroft]

I'm baking a cake and buying party decorations!
Serious question: Have you seen anything on raises for our military? After the Army's belly flop on recruiting this year and the other services having to draw down their delayed entry pool we could be in deep in maintaining a capable military.

I remember there being a thread about the Pentagon recommending service members get food stamps, but I don't recall anything about any raises. But then, I only made on post in that thread and didn't pay much attention after that.

It would be nice if the military were to raise COLA payments based on any specific area's costs.

 

[noonereal]

I predict no matter what the adjustment it will not keep up with inflation

Worse. Last year's not only did not keep up with inflation but the Medicare cost deduction increase was so extreme that little actural increase was scene at all. I fully expect the same this year.

 

[Chomsky]

I remember the sorties of seniors eating dog foo, hopefully it’s not that bad this time

Growing old causes a jam. If you keep your house, you have maintenance & tax increases & expenses. If you rent you face annual rent increases.

I suppose the always popular with seniors condos & townhouses might be a more workable compromise, but then you have H.O.A. fees & Association maintenance & improvement assessments!

No easy way out on a fixed income . . .

 

[Chomsky]

Worse. Last year's not only did not keep up with inflation but the Medicare cost deduction increase was so extreme that little actural increase was scene at all. I fully expect the same this year.

That's a real problem. I believe the SS benefit amount should additionally be tied to Medicare COLA. Or better yet, break Medicare out & fully subsidize it.

 

[SenorXm/Sirius]

Best guess is 8.7% increase??

 

[Port & Starboard]

I'll wager a 2.5% increase to our retired brethren.

Real inflation is over 10% but you all can take that up with Joe.

 

[You're not Capgras!]

I'm baking a cake and buying party decorations!
Serious question: Have you seen anything on raises for our military? After the Army's belly flop on recruiting this year and the other services having to draw down their delayed entry pool we could be in deep in maintaining a capable military.

The Military gets the same Cola SS does.

 

[Chillfolks]

Growing old causes a jam. If you keep your house, you have maintenance & tax increases & expenses. If you rent you face annual rent increases.

I suppose the always popular with seniors condos & townhouses might be a more workable compromise, but then you have H.O.A. fees & Association maintenance & improvement assessments!

No easy way out on a fixed income . . .

Getting old sucks. Use it up toss it out and forget about it. The modern American way.

 

[Bullseye]

The Military gets the same Cola SS does.

We never did when I was in; . But, I was talking about basic pay raises. And yes there ARE allowances for quarters and subsistence if you live off-base.

 

[Bullseye]

But hey, an extra 100+ bucks a month adds-up over a year. I wouldn't turn my back on it!

Nope, but I don't follow it.

But that's always been the way with military - recruitment rises & falls inverse to civilian employment trends.

I'd argue though the biggest military draw might be the education & retirement bennies, not the pay.

Good point, but to many young people that eons away.

That, and if you're a young person facing housing issues Uncle will put you up!

Yeah, sharing a berthing compartment with 50 of your best friends is very attractive!

 

[Chomsky]

Good point, but to many young people that eons away.

Yeah, sharing a berthing compartment with 50 of your best friends is very attractive!

My thoughts on the bolded: "Why is youth wasted on the young?"

 

[You're not Capgras!]

We never did when I was in; . But, I was talking about basic pay raises. And yes there ARE allowances for quarters and subsistence if you live off-base.

Maybe you received “special “treatment”

 

[Razoo]

Maybe 33% would be fair annually ..........after all the banks and such are using this money to expand their wealth.

Perhaps the world of disabled soldiers should be considered for a 45% increase now then 15% annually the following years.

Most all senior citizens have made serious contributions to the USA yet elected officials want to screw them annually. Of course our nations soldiers have donated tons of themselves.... let's support them so they can support themselves.

Let's cut the bullshit.........

 

[poweRob]

Social Security's 2023 COLA: What Retirees Must Know | The Motley Fool

The Social Security cost-of-living adjustment (COLA) for 2023 will be announced on Oct. 13, 2022.

www.fool.com

--

If you collect, keep your eyes open tomorrow!

Boom!

 

[Chomsky]

Boom!

Nice!

Thank you, PoweRob.

 

[uptower]