“10 Fastest-Rising Costs for Older Americans Since 2000”

“10 Fastest-Rising Costs for Older Americans Since 2000,” by Ginger Szala, ThinkAdvisor

Quote:

“Since 2000, Social Security benefits have lost 32% of their buying power despite yearly inflation adjustments, the group found in a new study. While COLAs have increased Social Security benefits 55% in that time, the typical older adult’s expenses have increased by 104.8%, according to the study.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Will Social Security always pay benefits? Yes. But you may not be able to afford anything with what it pays. This is how government entitlement programs wind down.