A New Year Means New Challenges for Social Security Recipients.
A new year means new opportunity and represents hope for many of us. It can, however, also mean new challenges. As we continue to deal with the Covid-19 pandemic including newly emerging variants, the future holds some uncertainty. Beyond public health issues, the global emergency has created economic hardships for many. With continued economic shifts, what can we expect from 2022?
Out With the Old — How Scocial Securty Has failed Seniors For Years
Of course, the pandemic has led to new financial challenges, but many seniors have already struggled for years. The problem is that many Americans rely on Social Security benefits to live, and yet, only barely receive enough to get by in the best of circumstances.
These benefits have been far too low for years, and Congress has still not taken significant action. Unfortunately, some older Americans find themselves living below the poverty line after spending their lives working.
It is unfair that Americans spend most of their lives working and sacrificing only to not get what they earned in retirement. This needs to change, especially as 2022 ushers in new challenges for seniors.
Retirement Challenges in the New Year
As we move into 2022, it is important to consider the issues that will drive our economic success or failure in the future. The following are some of the biggest factors likely to influence our finances in the coming year.
- Inflation — Inflation rates have hit our economy hard in the past year. Costs will likely continue to rise in the coming year as well.
- Political Unrest — It is no secret that the political landscape has been rough the last couple of years. Ragardless of political affiliation, we must admit that current division is not good for Americans moving forward.
- Continued Public Health Issues — Covid-19 is far from over. New variants continue to emerge, and science is constantly working to keep up with ever-changing threats.
Why 2022 is the Year to Pass The Greatest Generation Benefits Act
The bill we call The Greatest Generation Benefits Act is intended to give many older Americans the benefits they deserve. Unfortunately, COLA consistently falls short so retirees need something new. This legislation would give retirees over age 82 an instant increase plus a guaranteed annual increase.
While inflation threatens the 2022 economy, this is the perfect time to pass this important act. We need your help, however. Please take a moment to sign our petition. Follow us on Facebook and Twitter for the latest updates.
