What's a "fixed income"?

[BobV]

I get so tired of hearing this...

:soapboxrant

A few months ago, they raise MY sewer rate 50%, yet this month, they want to give a reduction to those on "fixed incomes"? Isn't MY income "fixed" too? The boss won't let ME write MY own checks. In fact, isn't my income declining due to the higher gas costs that I have to pay to collect that income every week, instead of sitting home waiting for the next direct deposit? :confu

/ :soapboxrant

I feel better now.

 

[pprince]

It's okay Bob.

You're rich so you won't be as affected as all the welfare people

Just kidding with you :thu

 

[Gigantopithecus]

I'm on a fixed income as well, if you mean fixed as in neutered.

 

[Horseplay]

Here we go off and running early on Monday already!

Fixed Income typically is used to reference those on Social Security. The elderly or disabled. I have always found that interesting in that up until just the past two years, those incomes received an annual "bump" in the form of a cost of living adjustment. Here are the numbers since 2005

Year COLA
2005 4.1
2006 3.3
2007 2.3
2008 5.8
2009 0.0
2010 0.0

Prior to this time period (at least as far back as 1975, there were annual COLAs. Hardly seems fixed to me. Come work at my company or many others that I deal with and you'll find out what real fixed income is! Annual salary reviews are a thing of that past at most places these days. Nearly a 3% increase every year for 6 years seems a whole lot better than what most everyone else has seen. I am not begrudging them theirs but don't say they can't afford an increase while others can.

 

[70 StangMan]

Mine's more of a "broken income" :rant

 

[70_Fastback]

Mine's an OUTGO. I'm not sure WTF yooooz guys are complaining about... :wtf

 

[guruatbol]

Been off work since November. My retirement has a 2% COLA every two years. My wife is topped out in her grade and only gets more if she promotes.
Well, that is not likely as promotions are frozen.

I sure hope people travel this summer and tip well since that is what I will be depending on for the next year!

Mel