General Discussion
In reply to the discussion: I just got my fuel oil bill. [View all]Johnny2X2X
(19,060 posts)Now the average SSI benefit is about $1700 a month, so if your pensions are more than that, or even more than $1200 you're getting by.
Inflation averaged 1.7% a year from 2010 to 2020, even if you add in 2021 you're talking about an average rate of inflation of 2.2% a year. And the year before that, 2009, actually saw deflation. 1 year of 6.7% inflation doesn't wipe out 11 years of inflation under 2% a year. The Fed wants inflation around 2%, we were below or around that since Bush 2 left office, we've had 1 bad year of inflation and people are acting like it's been going on for a decade. And that inflation is 90% due to a global pandemic that through the global supply chain out of whack.
You're sorry you worked and saved? Why? You think you'd be better off with no pension or savings?