Social Security increase

[stevej37]

Received an email last night that the final numbers are in for the cost of living adjustment for 2024.

After deductions, mine is going up $50/month.
Not nearly as much as last year...but still better than nothing.

Now, to figure out what I will spend the $50 on.

[flatbutt]

Originally Posted by stevej37

Received an email last night that the final numbers are in for the cost of living adjustment for 2024.

After deductions, mine is going up $50/month.
Not nearly as much as last year...but still better than nothing.

Now, to figure out what I will spend the $50 on.

A 1/2 bag of groceries?

[JackDidley]

Originally Posted by stevej37

Received an email last night that the final numbers are in for the cost of living adjustment for 2024.

After deductions, mine is going up $50/month.
Not nearly as much as last year...but still better than nothing.

Now, to figure out what I will spend the $50 on.

I'll take it. Better than a sharp stick in the eye.

[rwest]

Stax and Taco Bell?

[stevej37]

^^^ I was thinking more of a tank and a half of gas each month. Maybe more, the way the price is going down.

25 burritos each month is prob too much.

[jcommin]

I'm up as well. No complaints here.

[Bob Kontak]

Originally Posted by stevej37

25 burritos each month is prob too much.

Prob is so midwest. You probably own turtles.

For $50, ALDI is one nice grocery bag with, say, one $10 meat - Chicken or burger.

Edit: That's an ALDI paper grocery bag with their shiet paper handles. Flatbutt speaks of 1/2 a grocery bag which may be a traditional paper grocery bag. Probably 1/3 more volume than ALDI. So it's more than half. Maybe 70% of a real grocery bag.

[stevej37]

^^^ It likely is...

[masraum]

Taco bell and beer is my guess.

[stevej37]

^^^ No beer at the Bell....sorry.

[Baz]

Looks like we will get 2 checks in December (or direct deposits if you have that set up like me) but no payment in January......

https://www.newsnationnow.com/business/your-money/social-security-two-checks-december/

[stevej37]

I think direct deposit is the only option now for everyone.

[stevej37]

Last years cola was 8.7%
This years is 3.2%

[Zeke]

Yeah, the increase is cancelled out by the increase in cost for original Medicare for me because I passed another age level. Maybe you didn't know that Medicare costs increase as you age. I mean it's logical but hardly fair.

Originally Posted by stevej37

Received an email last night that the final numbers are in for the cost of living adjustment for 2024.

After deductions, mine is going up $50/month.
Not nearly as much as last year...but still better than nothing.

Now, to figure out what I will spend the $50 on.

You don't get a lot of SS according to the math. Military or gov't pension? Or maybe you were a train engineer.

[Bob Kontak]

Originally Posted by Baz

Looks like we will get 2 checks in December (or direct deposits if you have that set up like me) but no payment in January......

https://www.newsnationnow.com/business/your-money/social-security-two-checks-december/

I don't think that's for regular recipients. I don't know for certain but it seems like it's not the core payments.

The checks will be sent to those who qualify for Supplement Security Income benefits, the report said. The first check will be sent out on the first of the month, while the second will be issued right before the new year on Dec. 29.

[stevej37]

Originally Posted by Zeke

Yeah, the increase is cancelled out by the increase in cost for original Medicare for me because I passed another age level. Maybe you didn't know that Medicare costs increase as you age. I mean it's logical but hardly fair.

You don't get a lot of SS according to the math. Military or gov't pension? Or maybe you were a train engineer.

I do get a pension and it's about double of the SS payment. The pension is guaranteed to never change...that's why it's interesting to watch the SS COLA
I'm 70 and haven't noticed any Medicare costs going up....yet.

[Baz]

Originally Posted by Bob Kontak

I don't think that's for regular recipients. I don't know for certain but it seems like it's not the core payments.

The checks will be sent to those who qualify for Supplement Security Income benefits, the report said. The first check will be sent out on the first of the month, while the second will be issued right before the new year on Dec. 29.

I think you are right, Bob.

[stevej37]

After paying into the system for over 40 years...it is nice to recoup the money on a monthly basis.

[Baz]

Originally Posted by stevej37

After paying into the system for over 40 years...it is nice to recoup the money on a monthly basis.

Amen.

I just bought another motorcycle and on the way home with it in my trailer I was thinking this is only 1 and a half months SS payments....that's not so bad.

It was actually a bit less but who's counting.....

[stevej37]

^^^ And I'm not going to feel the least bit guilty by living to 90 and drawing more out than I put in.