There’s a lot competing for our attention these days, isn’t there?
After years of a global pandemic and shutdowns that left people’s lives changed forever, the economy remains in a tough spot. There’s plenty going on in the world, and a lot to worry about. So should you really “sweat it” if your Social Security payment isn’t as high as it could be?
Especially for wealthy seniors who are comfortable at the moment, should you give a second thought to your Social Security COLA with so much else to think about?
The One Thing Wealth and Money Can’t Give You
Reaching retirement is a rewarding experience. You’ve put in a long life of hard honest work and responsible planning — and now it’s time to spend a little more time focused on you, your hobbies, and your loved ones.
Many retirees only rely partly on Social Security. Some draw from personal savings and side hustles to create a comfortable life that doesn’t hinge on a Cost-of-Living Adjustment (COLA) every year.
“My Social Security COLA is 5.9 percent, but inflation is 7.5 percent! Good thing I’m covered.”
This is a fine attitude to have, just like it’s fine to enjoy the finer things in retirement. But even if you’re free to enjoy your possessions with the people you love the most, nothing can buy a true sense of respect and fairness.
This is where the argument for regular COLAs comes from. It’s not just about whether a yearly Social Security “raise” enables seniors to cover their bills. Raising Social Security benefits is what’s fair. This is true regardless of the state of the economy in your own house or the world around you.
Help Promote the Respect of Retirees’ Rights
The people who are retired now and heading toward it are the ones who have sustained Social Security. It’s only fair that the managers of this program continue to make every retiree a priority.
Retirees deserve to be treated fairly, and NORA makes it a mission to do this on the legislative floor. No matter your income or age, if you’re passionate about making sure Social Security is there for the people who have kept it up, follow us on Facebook and Twitter to make your voice heard.
