Re: Retirement
Uh, James...
If the inflation rate is 6% then the cost of living increased 6%. Thus, your pay increasing 6% means absolutely nothing.
Actually, less than nothing... Why? Because you are losing value to ongoing inflation throughout the year. For example if inflation is 1% for July and you do not get a pay increase for July than your purchasing power just lost 1%.
Also, guess what. My understanding is that they use the core rate for cost of living increases. That core rate does not include gas and food. Hmmm.
Finally, if inflation comes to your home value what do you think happens to property tax.
Inflation is NOT a reason to be happy. It is horrid.
Bro, we be getting jobbed. And, retirees will get jobbed the worse. I can still dump this job mid-stream in July and get another higher paying job. Retirees, not so much.
Lookin' up at the 'G Fund'!!!
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