The American economy is significantly stronger today than during the Great Recession. However, persistent inflation and last year’s sharp stock market decline have shaken American workers’ and retirees’ confidence in their retirement prospects to levels not seen since 2008.
Tag: COLAs
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Retirees Remain Apprehensive Despite A Drop In Inflation
The majority of older customers are unconvinced that the 8.7% Social Security COLA for 2023 will maintain pace with inflation this year, according to a study conducted by the Senior Citizens League. Even if the inflation rate is heading downward, most seniors continue to be anxious that their Social Security cost-of-living adjustment will not keep up with growing costs.
