Food: The cost of food has been rising faster in recent years and food prices have easily outpaced overall inflation for many other types of goods. Among other senior spending categories, only prices for oil-based products and medical care have risen faster than food prices. The U.S. Department of Agriculture reports that meat prices, particularly beef and veal, are at record highs, and the USDA expects high prices for beef products through 201Poultry prices remain high but are falling. Try new recipes and plan menus. Use lower–cost cuts of meat and poultry and stretch your servings using less expensive sources of protein like beans, tofu, and high protein whole grains. Four chicken leg quarters that sell for under .49 per pound, for example, can yield 12 - one cup servings of home made chicken and whole grain rice soup, especially good made with white soup beans and fresh chopped mustard greens or endive. Freeze the extra and share with homebound friends..Keep retirement accounts invested in age appropriate choices..This week, one new cosponsor Rep. Timothy Bishop signed on to Rep. Peter DeFazio's Consumer Price Index for Elderly Consumers Act. The cosponsor total for the bill is now up to thirty..The main source of funding for Social Security comes from the payroll taxes that workers pay into the program. But there are two other sources of revenues: taxes that retirees pay on their Social Security benefits, and the "interest" earned by the "I.O.U.s" held by the Social Security Trust Fund..The debate over cutting entitlement spending, however, isn't new. For years, proposals to cut Social Security and Medicare benefits have been put forth from both sides of the aisle. Consider:.physical or mental condition at some point that will cause them to need help.Every day, thousands of our neighbors and friends protect our cities, educate our students, and provide crucial services to our communities. While these public servants have made careers out of giving back, our federal government unfortunately uses antiquated policies to take back the benefits that these workers have earned..That is only one of the issues involved with high drug prices, and the drug companies aren't the only issue..Changes to Medicare and the tax code this year will affect some seniors positively, but many more seniors negatively. Those who fall into the donut hole will receive some much-needed relief from the federal government, while young retirees with high medical bills and those who rely heavily on investment income may be hit with tax increases. The Senior Citizens League will continue to closely monitor the implementation of the Affordable Care Act, and will post updates on our website. To learn more about these and other issues affecting seniors, visit SeniorsLeague.org.

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Age doesn't matter for contributions to Roth IRAs. Regardless of your age, if you have earned wages you can contribute to a Roth IRA. While the contributions to a Roth will not lower your income for tax purposes, the money you put in will grow tax deferred without any required minimum distributions. And distributions from a Roth won't subject your Social Security benefits to taxation.."Is There A Subprime Car Loan Bubble?" Bob Sullivan, Credit.com, March 23, 2015..However, he has apparently given up his demand. … Continued

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Keep retirement accounts invested in age appropriate choices..Members named to Congressional Conference Committee.It required a mix of financial incentives, unprecedented world-wide need, and government prodding. But drug companies stepped up, and based on their performance in the stock market, they appear to be prospering. The federal government negotiated not only prices, but also it purchased hundreds of millions of doses of vaccines, made the vaccines available to the public at no charge, and has overseen the distribution of the vaccines to states. Those vaccines are saving lives, helping to get workers back on the job, and allowing those of us who are fully vaccinated to carefully start to resume pre-pandemic activities, such as visits with friends, family and grandchildren. … Continued

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