Re: Meaning of "Fixed Income"
Originally Posted by TromboneAl
On the news when they say "fixed income" they seem to mean "low income."
As in "Higher heating costs are especially painful for retirees on a fixed income."
Is there something I'm missing?* If I made $1 million a year, it would be a fixed income, but heating costs wouldn't be a problem.* Can most people raise their income when desired?* "Oh, heating costs are higher this winter, I think I'll up my income a bit, but just for the winter."
Another good reason to turn off the TV!
I think they're just assuming that newsworthy retirees are already spending every dime of their pensions & SS and unable to keep up with inflation-- unless they put on a Wal-Mart vest.
Was there ever a time in SS's history when its payments didn't have a COLA? Maybe that's where "fixed" got started.
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