No cost of living increase in SS

[Willie353]

We havent had a cost of living increase in SS in 2 years. The way I understand it we wont get one till 2012. Could they be using that as a political tool to get elected? What do you think?

[Azanne07]

i wouldnt be surprised if they pushed back the age you can get social security with the expected deficit that is going to be starting this year. I wouldnt be surprised if that raise did not happen either.

[lgemini]

I know I will be happy to get an increase is SS.  My life expenses are not staying the same, so how can they do that.
Why is it that the old and disabled (SS) have to suffer the most? 

[ejholt]

It has been 2 years since we got a raise in SS.  Do they think the elderly don't need an raise or need more money to live on since everything has gone up?  The goverment is always wanting to help other people in need.  Looks like they would think of helping their own people.

[monnee]

The government always help other countries first before us.  So on the next election, vote them out of office.   

[tuyetmai]

The government always help other countries first before us.  So on the next election, vote them out of office.   

Lol... you are funny.  But I think it's true.

[dreamyxo]

No one should rely on SS as their sole means of support and if you do that I'm sorry to say this but you'd be stupid.  They have been telling my generation (genX) since we were born that SS will not be around when we retire so I have never relied on getting SS to live on when I retire.  If I get it fine that will just be a little extra every month but I will not be relying on it as my only support.  I wish I could opt out of SS.  Give me the money they are taking out of my check and let me invest it the way I want. 

For the young people who might be reading this start early and save, save save.  Get an IRA, 401K, mutual funds etc. Learn about how to invest and grow your money.  Thinking about SS and retirement may be the last thing on your mind as a teenager or 20 something but while you are young you have the best change of earning and growing your money.  Start early trust me on this.  The most important thing is to have multiple streams of income.  Long gone are the days when you can work one job for 40 years and retire with a decent pension.  That doesn't exist any more.  The more income streams you have the better prepared economically you will be if you lose one of those streams. 

They may raise the retirement age to 70 or however high they want to get it but I'll be damned if I'm going to be that age and still be working like a slave for someone else.