Wednesday, November 4, 2009

Social Security and the Future of Your Money

Your Financial Future: The No-COLA Fix
Action by Congress could provide relief to millions of Social Security recipients. These days everyone is worried about insurance and the future of their money. Please read the article below, and decide if you agree that linking the COLA to the social security will truely benefit people, or hurt them. Consider the retired community demographic specifically.
http://bulletin.aarp.org/yourmoney/socialsecurity/articles/your_financial_future_the_no_cola_fix.html

7 comments:

  1. I think what the government is trying to do here about COLA saying that "the first time in 35 years there won't be an automatic COLA for 2010". Ti me I don't think that fair, because people are working for there money. They should not canceled it right now. The government is not doing a good job. They don't think about the future but them selfs. So, If we won't get social security for next year that means no disability income, social security, or even medical for those who can't afford it. This affect a lot people, and It will hurt them so much and it is a truly benefit their lives. So I think the government should take anther look before they move and act.

    The good news is that payments are not adjusted downward to reflect falling prices. The bad news is that Social Security will almost certainly announce this month that there will be no cost-of-living increase next year. Unless inflation picks up again, there probably won’t be one in 2011 either.

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  2. The good news is that they're not going to take any money from your checks because when you get pay the most money that they take its about social security and would be able to get all of your money in your pay roll. But the bad news is that they are saying that by 2010 they are not going to take money from your check but when its time to do taxes you will be getting little money or no money and plus is going to affect your health insurance all of your payments on whatever you're paying for example, house,car and credit cards are going to go up because they will see you earning more money because they are not going to take the social security money. Because from social security they take more than 10% of your check.........

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  3. Cost-of-living adjustment means, an adjustment made in wages that corresponds with a change in the cost of living. So, there is a standard that saying it is good for everyone to get benefit from the government, realistically it is not fare for everyone. Base on the income, the well-known business people they also get benefit, when they are getting old, but theirs salaries were 200 times of a high school teacher, so that means they could buy a hospital if they wanted. They are not that much of needed get from government extra funds. The cost-of living for them are go through the roof, but most of american are middle class, they could not be able to pay that much of payment. So, what happened? They ask much from the government, which is funny, the government give it to them, yes, they should get some, but not everything. So the people getting lazy on relaying on the government's support, they don't do any work any more.
    So, I think it kind of problems are not solvable, because that kind of cycle are keep doing for such a long time, as the article shows "Every year for the past 34 years, Social Security recipients have had their payments adjusted upward to reflect increases in the cost of living. Last year it was a 5.8 percent increase." The living is out of control on regular working, that leads more crimes happened.

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  4. I think this is not good idea also it's not a bad idea because you can not be definately sure about this topic. America is always been devided in two part for this idea some people don't want social security money while others wants that. Those of them who does not want that money are already rich and they can afford theire health care insurance. Those who actully needed that are middle class or poor people who does not have job or not a good job. It is not faire for the rich people to pay taxes for that and on the other hand it's not even fair for the poor people because government promise them to pay for their health care now, they can not steap back. So this is one of the issue that have no solution or not easy solution. Government always face that issue where people have different opinion about that idea.

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  5. Every year for the past 34 years, Social Security recipients have had their payments adjusted upward to reflect increases in the cost of living. Last year it was a 5.8 percent increase, reflecting how much prices had risen from the third quarter of 2007 to the same period in 2008.
    But that price spike was largely caused by skyrocketing oil prices, and when they dropped dramatically between 2008 and 2009, so did the inflation rate. In fact, the Consumer Price Index used to calculate Social Security increases fell 1.9 percent between August 2008 and last August.

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  6. Well people are worried because the government keep on rasing the price of the social security each year higher and higher so no wonder people are worried about their social security. If the prices of other object contiune to ride of will the social security so we have to hope it doesn't go any higher that it already is. The cost of living is go higher and higher as we speak or write, the only way to lower the social secirity is to the lower the living cost that use everyday.

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  7. The reason why people are so worried is because the government keeps on raising the social security price every year and the people can't keep up and then they are in debt. If the cost keeps going up, people will start losing their houses because they can't pay for it. The living cost is just too much to handle. The living cost needs to go down or a lot of people will start losing a lot of their belongings and households.

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