Thread: McDuck's Account Talk

At .03% I will get $1.57 more a Month!!!!!!!!!!!!!Attachment 39739Attachment 39740

Wow, hardly seams worth it. Just enough to justify: "don't say we never gave you anything."

I was CSRS and at retirement they cut my Social Security 60%, so I'm used to it!

This stinks

Hillary Clinton And Wall Street: Financial Industry May Control Retirement Savings In A Clinton Administration

The increase in the cap to $127,200 stinks even worse. That's a 7.3% increase. How does the cap get increased 24x more than the COLA? Workers are screwed more than retirees.

Originally Posted by McDuck

Social Security cost-of-living allowance increases for 2017 is just 0.3 percent


http://www.cnbc.com/2016/10/18/socia...next-year.html

"The agency also will be taking more. It said it will increase the maximum amount of earnings subject to the Social Security tax to $127,200 from $118,500, starting in January."

"Financial advisors have said that they aren't counting on Social Security COLAs as a retirement income boost, especially since 2016 was a year with no increase for retirees."

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"Keep a lid on your costs by enrolling for Medicare when you're eligible. You can sign up during the initial enrollment period, which starts three months before your 65^th birthday and ends three months after.
If you miss that first enrollment window, you will be subject to a 10 percent late fee for each 12-month period you went without coverage. You will pay this surcharge for the remainder of your life."

Originally Posted by Skorcher

The increase in the cap to $127,200 stinks even worse. That's a 7.3% increase. How does the cap get increased 24x more than the COLA? Workers are screwed more than retirees.

I thought the increase in the SS cap was indexed. So Cost of Living....wait....COLA is only given to retirees and SS recipients. Workers get 1.6% wage increase in Jan, but that is not based on Cost of Living, that's only based on what the Pres or Congress decrees. Who knows what they base it on. So still, 7.3% increase in cap and 1.6% wage increase is pretty bad. Did inflation really go up 7.3% this past year?!?

It has nothing to do with inflation -- it's the insolvency of Social Security. Our government is trying to suck in for money to keep it going a few months longer.

This article has more detail on how the increase in the wage base limit works: http://www.heritage.org/research/reports/2005/03/how-todays-social-security-works

“Every October, Social Security calculates and announces the earnings limit for the following calendar year, based on the growth of wages in the economy. Wage growth is slightly higher than the rate of inflation(growth of prices). Developed as part of the 1983 Social Security reforms, this formula for increasing the amount of wages that are taxed for Social Security was supposed to cover 90 percent of the nation's total wages. However, this proportion has gradually declined and is now closer to 85 percent."

So it sounds like maybe this problem is that the total wages paid are dwindling, therefore they have to jack up the wage base limit a lot each year in order to collect what they need. So all the talk about increasing the limit is a moot point since it’s happening anyway.

Obama administration confirms double-digit premium hikes

Obama administration confirms double-digit premium hikes | WHNT.com

"Before taxpayer-provided subsidies, premiums for a midlevel benchmark plan will increase an average of 25 percent across states served by the federally run online market."
"The number of insurers serving the federal market will drop from 232 to 167, a loss of about 28 percent."

Opinion: The U.S. stock market is stuck in the danger zone

The U.S. stock market is stuck in the danger zone - MarketWatch

I have lost a lot in the S-fund in the last couple of weeks.

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