We can’t control what others do and we can’t stop misfortune from striking. But we can control our own actions. Those who are financially prudent will most likely enjoy success, even if events don’t always go their way.
The COLA has never kept up with price inflation. My military pension has gone up 60% since 1995. My mobile home lot rent up 86%. Food is up 100% to 150%. new car price up over 100%. gasoline up over 100% to 150% depending on where you live. The COLA does not measure the true inflation rate.
I am not getting SS benefits yet, but my point is, the COLA never even comes close to covering the real increases in prices. The average retiree looses ground every year and with future increases in Medicare Premiums things are going to get even worse.
The COLA has never kept up with price inflation. My military pension has gone up 60% since 1995. My mobile home lot rent up 86%. Food is up 100% to 150%. new car price up over 100%. gasoline up over 100% to 150% depending on where you live. The COLA does not measure the true inflation rate.
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Your military pension COLA uses the same formula as does Social Security so if it went up 60% so did Social Security benefits.
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I am not getting SS benefits yet, but my point is, the COLA never even comes close to covering the real increases in prices. The average retiree looses ground every year and with future increases in Medicare Premiums things are going to get even worse.
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