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Poverty for very many isn't around the corner. It's already here. "In April 2022, the average monthly SocSec benefit for retired workers was $1,666.49" ... abo
by 8bitsrule 4y ago
Poverty for very many isn't around the corner. It's already here.
"In April 2022, the average monthly SocSec benefit for retired workers was $1,666.49" ... about 20,000/year. (CNBC)
"The poverty level for a household of two in 2022" is about $18,000.
So already the SS-only retired (guess what percentage that is) were already very near the poverty-line. $1500 a month rent, $1660 income? Oh, but "In 2022, Medicare Part B premiums ... increased ... from $148.50 to $170.10 ... the largest... increase in the program's history..."
Those numbers came from before this year's inflation. I've been hidden away from Covid two years, and only recently got a look around. It's a different world out there for consumers... multiple asking prices astonished me. Going by Reddit remarks, a majority of us are already 'cutting our life style' (something Target has also noticed lately).
FIVE years from now? Who dares think about it?