What is the SS increase going to be for 2023. With inflation running wild I hope it matches the crazy rate inflation has gone up this year.

 

I got into an argument with one person a few months ago who insisted that inflation was less than 5%, I told them to give their head a shake.

The formula for the cost of living / inflation irks me, I don't care if televisions have gone down 50% when the food and fuel and heating inputs I buy everyday is going up by double digits. I don't buy televisions very often.

 

Better be careful.

This topic could easily become political and be moved to the politics subforum.

 

Ray, the COLA for 2023 has not been announced, though there is speculation that it will be around 8.7% or so.

 

I see seniors being heavily impacted by the current rise in cost of living every day, they likely won't be given an increase anywhere near what is needed. It's what motivates me to keep working as much as I can.

 

I can't imagine how tough it would be if a person only had SS to live on, no matter what number comes in.

 

A buddy of mine from grade/High School and nearby college (UC Davis for me, Maritime Academy the other) has wound up losing everything and is 100% dependent on SS. He makes play money on eBay /making/selling professional aircraft models but he gets nothing else. Divorce and a long list of tragedies have left him this way. An old friend and real estate top earner lost everything from a nasty divorce and wound up moving to Boise. He lost all savings and possessions in the divorce so he relies on SS but I suspect a few of his 3 local children help him out as well.

You really don't know how you might wind up with the short stick. Both these individuals are intelligent and educated. The common thread is divorce wiped them out.

 

I've heard it said by others about homeless people on the street, it may only require one bad event in one's life and many people could end up in the same position.

 

Hope for the best but plan for the worst.

 

I bought some wire wire shelving for our closet. $16.00 for a 6 ft section. That is more than double the cost of what it cost before inflation. Lowes and Home Depot are royally screwing people with these inflated prices.