At the beginning of 2023, Social Security beneficiaries witnessed a substantial 8.7% increase in their benefits. This cost-of-living adjustment (COLA) was the most significant in several years, driven by the intense inflation…
Tag: Cola
COLA’s Rollercoaster Ride: 2024 Predictions Leave Millions in Suspense
As inflation trends stabilize, predictions indicate that the rise in Social Security benefits in 2024 might not be as significant as the previous year. Current forecasts by the Senior Citizens League, a…
Navigating COLA: Smart Retirement Financial Strategies for Retirees
Discover how to manage COLA in your retirement years effectively. Learn about financial strategies such as income diversification, adjusting spending habits, investing in inflation-protected securities, considering long-term care insurance, and seeking advice from financial advisors.
Retirees Get Ready for a Big Cola
For many Americans, high inflation is a serious concern. Consumer prices rose 8.5% in July, marking the 17th consecutive month that inflation exceeded the Federal Reserve’s 2% target. Increasing energy and food costs are affecting grocery stores and gas stations.