July 13, the big and important day for the low-income and fixed-income beneficiaries. I have all the details and what you need to know right here in this topic, so let’s get right into it. Alright? Yet again, we have a very important day rapidly be approaching July 13. So I want to discuss all the details, what this day means, what the announcement is that’s coming, and how this is going to directly impact the low-income and fixed-income beneficiaries, as well as virtually everybody else right here, right now.
So let’s get into it and discuss all the details. I am your one and only daily advocate and I’m here for you each and every day, breaking it all down as well as watching everything very closely, especially as it pertains to money, benefits checks, raises to benefits reform, new bills, programs, as well as anything else that we may be able to take advantage of right here, right now during this very busy time. And as we continue to see all of these new pieces of legislation, new bills, announcements out of lawmakers, and so many other things that continue to pop up right here, right now, there’s a lot going on.
It’s a very busy time that we’re currently living through and I want to get into it and discuss why this key date, July 13, is on the calendar, what we need to watch here very closely, and what this day actually means for the low income and fixed income as there’s a few different things that this date and the announcement is actually going to mean going forward. so you don’t miss any updates going forward, and let’s get right into this. All right, so we have a lot going on right now. Seriously, can you believe it? If you’ve been reading the topics here on the site for any length of time, can you believe some of the things that are coming out right now?
I’m going to be honest with you right now as I do this research every single day, seriously, every day that I wrap all this stuff up, I feel like, wow, what a crazy day. I can’t even imagine what I’m going to see next tomorrow. There’s no way it could be anything different. I’ve seen everything by now, right? And then, sure enough, the next day comes by and it’s like, wow, didn’t see that one coming.
Seriously, it’s so weird what’s going on right now. It’s like we’re living in this whole different world. It’s like we’re in this big dream that we haven’t come out of yet. I don’t know, maybe I am in a dream right now, I’m not really sure what’s going on. Right.
Anyway, obviously, I knew what was going on because I’m watching everything very closely. But I’m just saying it is such a weird time that we’re living through right now. Anyway, let’s quickly talk about July 13 because this announcement is going to be very important. And this may be one of the catalysts that actually gives us a greater kind of clarity on what’s going on right now. As well as what could potentially even spur additional stimulus checks or a highly focused check for the low income the fixed income All the beneficiaries that I talk about here on the channel so often Like Social Security SSDI, SSI, VA Retirement Survivors, VA, RRB, All of these beneficiaries.
Especially even the low income. And what is really going on right now. And again, we’ve been waiting for some type of onetime lump sum check, monthly checks, anything like this. And again, this announcement could be potentially a catalyst to actually get things rolling once again. All right, so let me tell you the details behind this and again, how this is going to impact in other ways as well, the fixed income.
So the morning of July 13, are you ready for it? Yeah. It is going to be the next inflation data, which is the CPI reading for the month of June. Now, you might be wondering, okay, sounds exciting, but how does this impact me as a fixed income beneficiary? Well, it actually impacts you in a very big way, just like it impacts virtually everybody.
But it actually impacts the low income in a more significant way because it’s giving us a reading on what is actually going on with inflation. With the month of June. Now, over the last several months here, so far in 2022, we’ve seen inflation running at a rate of about 8.3 to 8.5% to 8.6%. Now, according to what the estimates are, with everything going on right now, we could be seeing another reading around the 8.5%, potentially even up to 9%. And according to what the economists and analysts are saying right now, we could be actually exceeding 9% inflation relatively soon.
Now, this is actually not necessarily a good thing, but we’re dealing with all this inflation and there’s nothing we can do about it. But this may actually be kind of a little bit of a silver lining for the low income and fixed income because as it comes down to it, we just so happen to be right here, right now in the most important months, when it comes down to your raise, to your monthly benefits, July, August and September. So let me tell you the details behind this. When it comes down to your annual raise for your monthly benefits, as a result of the annual cost of living adjustment for about 70 plus million beneficiaries, it comes down to these three months, July, August, and September. So as we look at inflation and we continue to see July 13 is going to give us the latest reading on June based on what this is doing.
If this is going down significantly, if it’s still going up significantly, where is it going? If the trajectory is still going up, that means we may be able to capture the top on all of this inflation between these three months, July, August, and September when it is the most important inflation data that will come out as it pertains to your monthly benefit, right? So you kind of see what I’m saying here because the higher the inflation is during July, August, and September, that just means it’s going to translate into a bigger monthly benefit raise for your monthly benefits going forward next year in 2023. Now, again, I know that’s a long time out from right now, but the fact of the matter is, unfortunately, there’s nothing that we as individuals or the American people, citizens, there’s nothing we can do about all this inflation otherwise, unfortunately, just sit here and ride out the wave that the Fed has essentially created for us. So at this point, we basically need to whip out our surfboards and just kind of ride this wave until the Fed kind of tames this thing down into just a little ripple, which is probably going to take quite a while.
But again, this is what’s going on right here, right now. So even though inflation is not a good thing, it’s hurting a lot of people in a pretty big way. It’s very significant right now, there’s a lot of things that are not necessarily a good thing about all this inflation. But at the end of the day, if we have to look for a silver lining between all of this, it is that if this inflation starts topping out in July, August, and or September, that means that we’ve captured some of the most significant inflation data during the three months that are most important when it comes down to your monthly benefit raise. So again, between all of the dark storm clouds on the horizon and everything with all its inflation, rapidly rising prices, lack of relief from Congress, things like this, if we have to look for a silver lining, this would certainly be it because this is going to translate into a massive, massive raise for your monthly benefits going forward.
Kind of see what I’m saying here, right? So this is one of the other things out there as well. Now, another thing that I want to point out as well, like I mentioned or alluded to just a short time ago, this inflation data, again, the higher that this inflation goes, the more that groups like the Senior Citizens League as well as other advocacy groups and us right here in this community continue to hammer down on Congress saying, what are you doing, Congress? Seriously, what are you doing, Congress? Are you even there?
Hello? Is Congress even there? Are you listening, Congress? My point is we saw this back in May of 2009. We saw that focused stimulus checks were sent out to fixed-income beneficiaries.
Why? Because fixed-income beneficiaries have exactly that. A fixed income income is relatively stationary. It’s fixed, it’s static, it’s not moving. As a result of that, you don’t really have the option to go out and get a whole bunch more income.
Just like people that are maybe working 40, 50, 60 hours a week. They have the ability to possibly work more, ask for a raise, things like this. If you called Social Security today and said, hey, I’m struggling, can you give me a raise? They laugh at you and say, are you kidding me? That’s not how this works, right?
That’s not how the program works. You can’t ask us for a raise. We don’t give raises out just because you asked, right? They don’t do that. So the fact of the matter is we may be looking at this inflation and maybe, just maybe, somebody will come out and say it’s about time that we offer another one of these highly focused checks for the low income and the fixed income because, well, first off, it’s long overdue.
This should have been done a long, long time ago. They should have been sending out these ongoing monthly checks for a very long time now. But at the end of the day, I guess late is better than ever when it comes down to it. And maybe this latest inflation data will finally ring the bells here and get some brain activity within the necessary people within Congress and everybody else that needs to get these checks approved for the low income and fixed income. So anyway, even though this is the inflation data, it actually means a lot more than just a number printed on a screen.
Yes, it’s going to give us the latest inflation data for the month of June, but at the same time it’s going to give us a reading on where are we currently sitting right now? Where is the trajectory? Are we still moving up? Are we moving down? Have we plateaued?
And what is everybody saying around this? What is the chatter circling around about this latest number and what does it actually mean going forward? This is very influential for the low income and fixed income. Anyway. As I do get more details.
Of course I’ll be right back here for you breaking it all down and as my dedication and commitment to you and this community is to continue being here for you. Right by your side every single day. To continue helping you out in any way that I possibly can as well as keeping you updated with everything going on. Especially for the low income and fixed income. See you soon on another topic bye. take care