WOW Really Good! Social Security, SSI, SSDI, VA, Low Income – Social Security Benefits, and a massive Social Security Benefit Raise
This is really good news for Social Security beneficiaries, including retirement, disability, SSDI, survivors, SSI, and VA beneficiaries. I have all the details and the newest information that was just to release today right here on the topic. All right, the very important and highly anticipated number was just released and this is going to directly impact your monthly benefit for all the millions of beneficiaries I mentioned just a few seconds ago. So I do want to talk through all the details and let you know what this is going to mean for the raise to your monthly benefit.
So, again, there’s a lot going on right now, and realistically, between now and the end of the year, a lot more is going to be changing in a really big way. All right, so earlier today, just a few hours ago, we got the latest inflation data for last month. Now let me talk you through the details about this because this report directly relates to your monthly benefit and how much of a raise you’re going to get to your benefit if you are somebody receiving those benefits I mentioned at the beginning of the topic, which, by the way, that encompasses over 70 million beneficiaries, a lot of people. All right, let’s talk through the details.
So this number is released once per month and it is represented as the CPI or Consumer Price Index. Now that’s the headline number. However, in just a second here, I’m going to get into it and talk about the CPIW, which also directly relates to your monthly benefit and the raise you’re going to be getting. So let me talk you through some of this preliminary information really quickly. So a month ago when we got the last number, inflation came in at 8.5%, which was actually down about 6% of 1% from the prior month before that at 9.1%.
However, now this month for last month anyway, so the report that we just got this morning was for last month’s inflation number. It came in a headline number of 8.3%. So technically it was down about 2% of 1% over the prior month. However, that’s the headline number and that’s what your local news is going to tell you is that inflation is down 210 1%. No, that’s not totally true.
Let’s dig into the report a little bit further here because we’re going to quickly see inflation is still up significantly right now. It’s still going up and this is actually going to translate into a pretty nice raise to your monthly benefit. Now, here’s the thing, like I’ve said before, I bring you the information that your local news is not telling you. Your local news is not going to tell you that the inflation is still going up, which it is. Even though the headline number is showing a little bit of a drop in inflation, inflation is still up 8.3% over the last twelve months.
So in my mind, 8.3% is not zero. Sorry, local news, it’s not zero. Okay, so let me tell you the details behind this. Inflation is still up 8.3% over the last twelve months. From one year ago today until now, inflation has gone up 8.3%, so it’s still very high.
However, let’s dig into the report a little bit further now. So on a month over month basis, inflation is still up one-10th of 1%. So 0%, right? So one-10th of 1% is still how much? Inflation went up over the last one month period alone.
Now, let’s dig into the report a little bit further because that number doesn’t seem all that bad. However, on a month-over-month basis, food is still up 710 of 1%. So that is still a lot going up. Shelter is up 710 percent as well as in rents are up another 710 1%. However, check this out on a year-over-year basis from one year ago until now. So over the last twelve months, food is up 13.5%. Is your local news telling you that? I highly doubt it, but that is the fact of the matter right now. According to this new report that was just out today, food is up 13.5%.
Get this, rents are up 6.2% year over year and again another 710 1% just in the last one month alone, even though gas prices did go down over 10%.
Sent over the last one month, that’s great. But guess what? Prices on other items like I’m just talking about right here, are still rising. Therefore, let me tell you this much, or let me ask you this much, I should say. Are you buying more gas every month or are you buying more food every month?
I think the answers is clear. We’re probably spending significantly more money every single month on food than what we are on gas, right? So even though gas was down over 10%, that’s good. But yet we’re still spending more on food. And food was up 710 1% just in the last month.
All right, so that’s kind of the report that I want to talk about. Now let’s quickly talk about the CPIW. This is the Gravy number, okay. This is the number that we need to watch very closely because this is the one that directly translates into the raise to your monthly benefit for Social Security beneficiaries. And all the benefits I mentioned just a few seconds ago at the beginning of the topic, here’s what it comes down to.
So the last report that we got a month ago came in at 9.1%. That was a very high CPI number. Now again, 9.1% was the CPIW from a month ago. Now the number that we just got this time from right now, today for last month came in at 8.7%. Now here’s what it comes down to.
These numbers are delayed about two weeks. We get them in the middle of the month for the prior month. So the number that we got today for the inflation was for August inflation. The number that we got about a month ago was for July inflation. Now let me tell you this much.
We’ve already gotten two of the three numbers that we need to figure out how much the raise is going to be for Social Security beneficiaries as your annual cost of living adjustment that will start or going to effect next year in 2023. Let me break the numbers down for you. So last month when we got the number a month ago came in at 9.1%, that was the number that we put in the books for Social Security beneficiaries. And the raise now this month or today for last month, August, we got 8.7%. So out of the three numbers that we need to figure out how much the raise is going to be, two of the three numbers are coming in at 9.1% and 8.7%.
So regardless what this next inflation number comes in at for September, which will be released in about a month from right now, regardless of what that number is, realistically we’re looking at a pretty healthy race to Social Security. In fact, we’re probably going to be around the mid 8% range, around the 8.5% range according to the numbers as of right now. So as of right now, we’re about halfway through September. Inflation is not easing so far okay, is inflation going to ease so much in the second half of September, then it’s going to drop that number down so much that the raise to Social Security is going to be very insignificant. No highly doubt it.
Inflation this month alone in September is still raging on. My point is, the number that we’re going to see in about a month’s time for right now for the September inflation number, is likely going to still be very elevated, basically locking in a very healthy raise to Social Security. In fact, earlier today we got a new report out of this Senior Citizens League, Mary Johnson, who came out estimating that the annual cost of living adjustment for 2023 for all the beneficiaries I mentioned throughout this topic, is going to be 8.7%. Now remember, one quick disclaimer that is still a preliminary number. At this point, we have two of the three numbers that we need to determine how much the raise is going to be for Social Security.
So even though we have the two numbers and we still need one more, the estimate out of Senior Citizens League as of today, just a couple of hours ago, is coming in at 8.7%. Realistically, I think that’s a pretty good number sitting right now. If it goes down a little bit from there, it might go down a couple of tenths of 1%. But I still think at this point right now, based on the numbers that we are currently seeing, we’re likely going to see a raised right around the 8.5%. But again, we won’t know the official number for about another month until we get the official announcement out of Social Security.
But now that we have two of the three numbers and we’re already halfway through September, this inflation is not dropping significantly right now. Therefore, through the second half of September, just the next couple of weeks here, between now and the end of September, inflation is not going to drop enough to bring this number down so significantly that it’s going to drop the annual cost of living adjustment down into an unfavorable range. There’s just no way. It’s just not going to happen. Okay, so my point is, this is really good information because even though inflation is very high right now, the fact of the matter is I’ve said it before and I want to say this much.
As long as we’re dealing with this much inflation right now, why not keep it high during the three months that are so important, july, August, and September so at least we can maximize the raise to monthly benefits? And then after September ends, who really cares what happens with inflation as far as let’s just hope that it goes down significantly after that because that means we’ve locked into three numbers that we need july, August and September inflation data. And then after September ends, as on October 1, at that point, if inflation goes down to 1%, it doesn’t matter. We’ve locked in the raise at that point is that kind of makes sense. That’s why it’s so incredibly important right now.
If this inflation is going to continue raging on, I feel like, hey, keep it where it is for at least the next two and a half or three weeks until we can wrap up September. And then after September ends, then let’s get ahead of this inflation and bring it down significantly. Now, at this point right now, the Federal Reserve is going to be meeting again next week for the next FOMC meeting. They meet every six weeks or so. In fact, the last meeting that they had was more than six weeks ago.
But they meet about every six weeks and they come up and determine what they’re going to do with interest rates. Well, based on this inflation data that we just got today, it is almost guaranteed that they’re going to raise interest rates by another 75 basis points with their next meeting next week. So again, they’re trying to bring inflation down, but honestly, they’re not doing a very good job right. They’re not doing a good job at all. So with everything going on right now, they need to really ratchet this up really quickly here because realistically, this inflation is virtually the dog wagging the tail.
And the Federal Reserve is like the tail just kind of getting whipped around, not doing a whole lot of anything right, because they’re trying to tame down this inflation. But realistically, the dog is just jumping all around, wagging his tail, he’s all happy and stuff and he’s the inflation guy, right? So it’s basically what it comes down to. Either way. The fact of the matter is this inflation continues to rage on.
And every report that I’ve read today, in fact, I’ve read a ton of reports so far today trying to dig into this as much as I possibly can. And they continue to say literally every single report that I’ve read today talks about the low income and fixed income getting absolutely whacked right now with this inflation. Where have they been? I mean, seriously, this has been an ongoing story for the last year and a half. We’ve all witnessed this, we’ve all been talking about this for so long and the reports are saying this now.
Oh, yeah, fixed income beneficiaries and low income, they’re feeling the pinch the hardest. Duh. Yeah, obviously, seriously, not to come up with like super smart words right now by saying duh. But I mean, seriously, where have these people been? We’ve all been preaching to the choir here for so many months now, saying this is what we need, we need additional support, we need financial assistance, we need a stimulus check, we need something like this.
And they continue to come up with all these brainiac ideas saying the low income are being hurt right now. Yeah, of course, we’ve been telling you this for all this time now. We’ve been writing letters to Congress, we’ve been posting all these topics asking for support, and they’ve done nothing at all, right? They continue to just sit there and blow smoke. So anyway, these are the inflation numbers that came out today and I wanted to dig into this.
This is a very important report and as of right now, the stock market is getting absolutely whacked. So if you’re watching the stock market, yes, it’s down a lot. Depending on the index that you’re looking at, you could be looking at anywhere about two and a half to three and a half percent down. So investors are not looking forward to this right now because this almost guarantees, like I said, another 75 basis point rate hike out of the Federal Reserve. So again, I know that a lot of you here don’t watch the stock market all that much, but I do because I know that all this is highly correlated and I want to know what’s going on with the markets because any collapse in any of this stuff right now is going to bring down the whole system.
So I’ve been talking about this for quite a while now that these markets are about to get whacked and seriously, we got a lot of stuff going on. Anyway, hope this topic helps you out again. I’m going to watch all this very closely. But the good news is we’re looking at a very nice race here to Social Security for 2023, looking probably around the mid 8% range. And as of that estimate out of Senior Citizens League earlier today, we’re looking at 8.7% out of what they are projecting as of right now.
But again, that official number will be released in about a month from right now out of Social Security. And of course, between now and then, I will continue to bring you these updates every single day to keep you posted with what is actually going on. Which by the way, one quick side note. If you’re interested in grabbing $34 for free, simply check out the link down below in the description. If you simply use that link to sign up and deposit at least one penny, you’ll get a guaranteed $34 worth of free stock.
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Totally optional if you’re interested in doing so. But anyway, I just wanted to bring it to you in case you wanted to check it out. Anyway, this is the latest inflation number. It was just released today and it’s translating into a pretty nice race for Social Security. Honestly, I’m a little bit excited because this number could have come in significantly lower and I felt like all of us would have felt cheated at that point because realistically, we see this all the time where we feel like we’re going to get something really good and then they pull the rug out from under us and say, just kidding, we’re not going to do anything.
So again, this is looking pretty good. I’m excited about it because it’s going to translate into a very nice raise to Beneficiaries and we’ve been waiting for this for a very long time. Anyway, I’m here for you no matter what.
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