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Solveig Spjeldnes's avatar

So true. I’m now a retired professor and I plan to move my entire STRS account funds into my Fidelity account. I don’t trust them.

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Bruce Olsen's avatar

Unfortunately, SSA's COLA adjustments are woefully inadequate. We're 72. our costs are up about 20% this year (and some prices have gone up by 50%). COLA for 2024 isn't coming close to that.

COLA adjustments should be month-by-month, and should keep up with actual price increases. If some prices occasionally go down (such as the notoriously volatile energy prices), then lower the adjustment.

Also--gambling on the stock market is no way to fund retirement. We need a better way than to (figuratively) roll the dice and feed more money to the already-bloated and far too powerful finance sector. This is especially true in the light of recent studies of portfolio management. Bonds no longer have a place in a portfolio (and never really did) and the latest advice is that target-date funds should be avoided. "Sorry if you wasted your money by listening to our advice.."

We need a better way.

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