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Social Security Increase Wont Pay The Property Tax BillPosted by: Ken Himmler / Category: Economy and Stock Market, Property Taxes |
Today we see news that Social Security will be increasing by approximately 5.8%. While this might seem like a boom to those who are retired it will be a grim result. On average those who are on retirement only have 50% – 60% of their annual expenses covered by Social Security. As an example if you have a monthly expense of $3,000 then Social Security may be paying $1,000 of this. If you get on average $63.00 increase (that by the way will be the average increase) it really only increases the total income by 2.1%. Considering that inflation Read more…
