Reply #26: It's about 2%. [View All]

[freedom fighter jh]

In a recent post someone said the average social security payment is $1000 per month. That's $12,000 per year. 250/12,000 = about 2%.

In the past couple of years, prices for living expenses have gone up much faster than that.

But the kicker is that next year's increase, if there is one, will likely be figured on the basis of this year's expenses *without* this 2% figured in. So payments do not go up exponentially, as costs do.