By Mary Johnson, editor Rapidly climbing prices for consumer goods and services are making financial choices for older adults especially challenging this year. But eventually, these higher prices might mean a higher ...
Buying Power of Social Security Benefits Wiped Out by Soaring Inflation
An abrupt jump in inflation in February and March of this year wiped out a short-lived improvement in the buying power of Social Security benefits in 2020, according to TSCL’s latest study on rising senior costs. The st ...
Are We Experiencing the Return of Inflation?
By Mary Johnson, editor Wall Street economists are in the midst of a growing debate over whether we are in for “the return of inflation.” (Oh, go ahead and snort. I did too when I first read about this.) Recently ...
What’s Missing From Your Social Security Check? For Many — $247
By Mary Johnson, editor The announcement of the annual Social Security cost-of-living adjustment (COLA) for the following year is like watching Charlie Brown trying to kick a football. Charlie Brown, our beloved cart ...
Social Security Announces 1.3% COLA For 2021, One of Lowest Ever Paid
Social Security recipients will receive an annual inflation boost of just 1.3% in 2021. The increase is so small, it’s one of the lowest on record. The 2021 cost of living adjustment (COLA) will increase the average re ...
An Emergency 2.5% COLA Could Add $5,000 To Your Social Security Income Over the First Ten Years
By Mary Johnson, editor Use of a consumer price index (CPI) that does not reflect the costs experienced by retirees to calculate the annual cost of living adjustment (COLA) suppresses the amount of lifetime Social Sec ...
Low COLA & COVID-19 Costs Could Trigger A Medicare Premium Spike
When the Social Security Administration announced that the cost-of-living adjustment (COLA) for 2016 would be zero, a stunning thing occurred. The Medicare Trustees projected that the monthly Part B premium would increa ...
Retirement Benefits Could Be Subject To “Inaccurate CPI Information”
TSCL is forecasting a 1.3% Social Security cost-of-living adjustment (COLA) for 2021. Our forecast is based on the most recent consumer price data from the U.S. Bureau of Labor Statistics (through August) and uses the s ...
2021 Social Security COLA Likely To Be About 1.3%
(Washington, DC) – Social Security recipients are likely to get a 1.3 percent cost of living adjustment (COLA) in 2021, making it the second lowest ever paid, according to The Senior Citizens League (TSCL). “Our forecas ...
Coronavirus Throws Monkey Wrench Into COLA Calculations
By Mary Johnson, editor Impute. Today’s word comes to us from the economists at the U.S. Bureau of Labor Statistics (BLS). Since March of this year, they have been forced to use this estimation technique much more f ...
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