Wednesday, May 09, 2012

The COLA Fix Scam

Just the occasional reminder that "inflation on stuff old people buy" is not the same as "inflation on stuff the rest of us buy" and "fixing" the COLA by cutting it is dishonest.
Medical costs continue to loom large over retirement, a report from Fidelity Investments says.

A 65-year-old couple retiring this year without any employer-based health coverage would need an estimated $240,000 to cover medical costs through retirement, according to Fidelity’s latest estimate. That’s a 4 percent increase from last year’s figure. (The number has increased by 50 percent since 2002, when Fidelity first calculated the cost at $160,000.)

Very Serious though!