$539 for Social Security, including retirement, disability, SSDI, and survivors beneficiaries, as well as extra for SSI beneficiaries. I have all the details, and we what you need to know right here on this topic. as we’re going to be talking about a new report that was just released and showing how these programs are impacting your monthly benefits to the tune of $539 per month. Yeah, we have a lot to talk about right here. So let’s get into it and discuss all the details. But if you’re new here or if. I am your one and only daily advocate. I’m doing research all day, every single day, watching everything very closely and breaking.
In this topic so that you can stay tuned. With everything going on, things are changing. Very rapidly right now, especially as it.
Pertains to the low income, fixed income Social Security, SSDI, retirement survivors, SSI, VA, RRB, as well as seniors, older adults, elderly people with disabilities, and so many more. So I want to make sure that. You know what’s going on here. And anytime that something comes out that we may be able to take advantage. Of, like money, benefits, checks, programs reform. Stimulus, things like this, I want to make sure that you know about it immediately. All right, so I want to talk. About a new report that was just. Released, and this may be a little bit shocking to some of us here in the community. Honestly, when I read through this, I. Thought, this is unbelievable. This is the system. And so many people are relying on these monthly benefits. Therefore, they’ve kind of been not necessarily. Doing the right thing here over the. Last many years, resulting in a benefit Of $539 that should be landing in Your pocket, but it’s actually not. So let me talk through the details On this, because this is actually a big development. All right So a few days ago, we got a report out of the Senior Citizens League. Yeah, We’ve been hearing some pretty good stuff out of them lately. They’re certainly coming forward and revealing some different information that we certainly need to Know about right now. So the new report comes out and shows that over the last 20 years, Social Security benefits have lost purchasing power, have depleted purchasing power by 40%, simply because the annual cost of living adjustment has not kept up with real inflation.
Now let me tell you this quick information. Now, I know I’ve mentioned this before in other videos, but I just want to make it very clear, just in case you haven’t seen it in the other topics. So the annual cost of living adjustment Is an annual one-time adjustment to Monthly benefits that is determined by the CPIW, the consumer price index for urban Wage workers and clerical workers. Now, this is what they actually peg. The cost of being adjustment off of. However, as a result of this not really keeping up with the actual expenses. That most fixed income beneficiaries are actually experiencing on an ongoing basis, it actually.
Should be the CPIE consumer price index for the elderly, which better reflects the actual expenses of fixed income beneficiaries. However, as a result of the Cola raise not necessarily keeping up with real inflation on an ongoing basis over the last 22 years, since the year of 2000 to 2000, until present 2022, this report out of the Senior Citizens League is showing that these benefits have lost purchasing power. As purchasing power has depleted by 40%. As a result of that, the average beneficiary should be getting, according to their assessment, an extra 539 points $80 every single month. That would equate to over $6,000 a year that each individual beneficiary should be getting.
But yet we’re not simply because of basically the depletion of the purchasing power and benefits, essentially effectively depleting because it’s not keeping up with real inflation. Now, this is one way that we’re seeing that these programs are simply not keeping up with reality of what is really going on right now. This is a sad situation. Here’s why I see down in the comments section literally every single day, hundreds and hundreds and hundreds of comments, maybe even thousands of comments coming out every. Single-day right here on this channel. Down below in the topics saying multiple different things. I don’t have enough food, can’t pay my rent, can’t pay for my car. My car just got repossessed. All kinds of different things. I’m borrowing money from friends. I just took out a personal loan. All kinds of different things that I’m seeing down in the comments section every single day from fixed income beneficiaries who are not essentially getting enough money every single month because prices continue to rise on literally everything right now.
And as a result of that, the Fixed income benefits are not adjusting accurately. To reflect the real cost of living. As a result of that, inflation continues. To move higher, prices continue to move. Higher, and the fixed income benefit does what? Nothing. It just sits there nothing. It continues to do the same old thing, sending out the same old tiny. Benefit that virtually nobody can live on right now. Again, I want to make it very clear just so that we understand this, this average, the 539 point $80 as identified by the Senior Citizens League is For the average beneficiary, which by the way, the average Social Security retiree right. Now is getting $1,657 per month and the average SSDI beneficiary is getting $1,358 per month on an ongoing basis. These are the averages as of 2022. Now, I know that a lot of You here in the community are probably receiving benefits lower than that The reason is because I’ve seen it. Down in the comments section. Again, please don’t leave your benefit amount down below.
That’s not my business It’s nobody else’s business to see how much you’re getting on a monthly basis. But my point is I know that because I’ve seen many comments over the Last several months in the last couple of years here where many of you. Have reached out saying, I get this much, I get that much So I know that a lot of People are getting far less than these numbers. But again, please don’t leave your benefit down below. We don’t need to know that. It’s your personal information. So please don’t share that. But anyway, this is the report that comes out. So again, it just shows that this benefit, the benefits are very important. Like I’ve mentioned in another topic, the Average beneficiary, as in 40% of Social Security beneficiaries, are relying on their monthly benefit for 90 plus percent of their monthly income. So about half of the beneficiaries are receiving their benefits and relying on them For the vast majority of their income every single month. Well, over the last 22 years or So, we’ve actually been getting shorted month After month after month, year over year Over year for many years now and Over long periods of time because it Has not been adjusted accurately to reflect the cost of living that many people are actually experiencing.
We’re actually falling short by a little Bit each and every year compounded over many years. And it comes up with an average of 539 point $80 per month for the average beneficiary. That’s a lot of money, right? Just imagine this. How much would your life change if your benefits actually did increase by say $539 a month or even just say 400, 300, $200, even extra $100 a month would make a huge difference for a lot of people. Right? I know we certainly need more than that. But at the end of the day, even just $100 more right now would make a huge difference. However, to be fair, let’s throw this Out there as well. If benefits were actually keeping up accurately with inflation going on over the last 22 years, the insolvency issues that we’re dealing with right now with Social Security Would be probably upon us, right? Maybe even a long time ago, because we do know that in about ten years from now, we’re looking at the Trust fund being insolvent. In other words, not having enough money to pay out all the guaranteed promised benefits.
As a result of that, they may Need to reduce benefits by about 22%. That’s not a pretty picture either Good thing we have on this is That we have about a decade to. Figure it out not we, but rather Congress has a decade to figure this Out but if they would have actually Been paying out the real benefits as They should have been paid out over.
All these years here actually better reflecting inflation then this insolvency issue probably would be upon us like right now, right? Possibly even a couple of years ago. But anyway that’s not the case we’re dealing with right now Anyway, I wanted to point this out For you to let you know what I’m finding out there with these reports, and again just another way that it seems. Like fixed income beneficiaries are always getting. The short end of the stick and I think all of us are really sick of it. We’re getting really sick of it by now, right?
Yeah. So anyway please leave your comments and questions down below. Leave your feedback down below as well. I’m doing my best to find all this information for you blade all out for you so we can all see. What is really going on and to make sure that we’re all seeing the Transparent information that’s going on out there and actually bringing all this to the light so we can all understand what Is going on and how it is impacting our monthly benefits.
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