The Old Farts thread

Moldy

Moldy

Well-Known Member
BarnBuster said:
didn't we think this was just a great game back then? imagine giving this to today's kid for Xmas lol

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Circa 1955-56? My older brother had that but I couldn't play with it. That should be worth some money to someone. It's in great shape.
 
BarnBuster

BarnBuster

Virtually Unknown Member
COLA:whoopie, from "The Finance Buff"

The official announcement for 2017 Social Security cost of living adjustment (COLA) will come in October. However, for those who paid attention, it’s widely anticipated that there will be a very small COLA in 2017.

Social Security COLA goes by the increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). That index has increased very little this year from a year ago.



I estimate the COLA will be 0.7% when Social Security makes the official announcement in October.

Should retirees want a higher Social Security COLA or a lower Social Security COLA?

Naturally people want a higher COLA. Some mistakenly think that the Social Security COLA is given arbitrarily by the President or Congress, and they want their elected officials to take care of the seniors by declaring a higher COLA. That’s not the case.

The calculation is automatic. It goes strictly by the inflation numbers. You get a higher COLA only if the inflation numbers are higher. A higher COLA caused by a higher inflation does you no good. When there is a higher inflation, even though your Social Security benefits get a bump, your other money will lose more value. Contrary to intuition and many people’s belief, you want a lower COLA. A lower COLA means lower inflation, which means lower expenses for retirees, which makes your savings outside Social Security last longer.

Some say the government deliberately under-reports inflation. Even if that’s the case, you still want a lower COLA. Suppose the true inflation for seniors is 5% higher than the reported inflation. If you get a 1% COLA when the true inflation is 6% and you get a 3% COLA when the true inflation is 8%, you are much better off with a lower 1% COLA together with 6% inflation than getting a 3% COLA together with 8% inflation. You’d rather your other money lose to 6% inflation than losing to 8% inflation. Your savings last longer with lower inflation.

Pray for lower inflation if you are retired.
 
tangerinegreen555

tangerinegreen555

Well-Known Member
tyler.durden said:
For the last few seasons, I almost never know the host or musical guest on SNL. Usually when the host comes out I've seen them somewhere before, but not always. I fear I am becoming an old fart, and I'm okay with it...
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Remember that old show 'Fridays' that was on for about 3 yrs. '79-'81?

As good as SNL, ABC didn't give it a chance.

I still remember the 'Drugs R Us' pharmacist. Guess you have to be in the old fart club to remember it.

 
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