As America continues to recover from the chaos caused by the COVID-19 pandemic, a new economic worry is starting for seniors. Kate Dore at CNBC writes that inflation is called “the Silent Killer” by some because it has resulted in rising prices for a number of essential items.
It becomes more obvious when the costs of housing, food, and gasoline begin going up. Seniors on a fixed income, those who rely on government assistance programs to help with food purchases, or government-subsidized housing really feel it.
Social Security beneficiaries can anticipate a cost of living adjustment (COLA), but that won’t kick in until 2023. In the meantime, inflation keeps putting pressure on the cost of necessary goods.
The challenge for retirees is to find ways to cut expenses, which is no easy feat. This is why it’s even more essential for you to receive all of the money you’re entitled to through your Social Security Benefits.
We Must Get The SAVE Benefits Act Passed
Given the growing challenge of inflation, Council of Seniors is working hard to get Congress to pass The SAVE Benefits Act. For a period of years, the annual Social Security cost of living adjustment (COLA) was far too low or, some years, even nonexistent. This is money seniors earned and it was withheld by greedy politicians. The passage of this crucial bill will return that money – $581 for eligible seniors.
By signing our petition today, you’ll help us show politicians in Washington that time is of the essence to get this done. We appreciate your support in helping us on our mission.
Is inflation starting to pinch your finances? Leave us a comment and let us know.
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