Social Security’s Silly Cost of Living Increase


Social Security payments will rise 1.7% in 2015, CNNMoney reports: http://tinyurl.com/n7sppjr

 

Of course, this tiny increase will hardly cover the increasing costs for medical!! This recent article reminds us that we ought to view Social Security as only one form of a retirement income stream in your overall planning.

How many citizens and SS recipients realize that these COLA (cost of living adjustment) increases are based on the CPI which is set by our “prudent” leaders in D.C.?  It supposedly represents the price inflation of our daily consumption items. Given this assumption, why then are the numbers skewed by removing food and gasoline from the equation??

Share this info with your friends and family. Using the concept of time and compounding, you’ll prepare to build other sources of income to supplement Social Security, thus increasing your chances of having enough income during your “Golden Years.”

If you are counting on Social Security, contact me with any questions or concerns. We are your partner for Retirement Cashflow planning!

 

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