In October, seniors on Social Security got some seemingly good news -- their benefits will be rising by 8.7% in 2023. That increase well outpaces the 5.9% cost-of-living adjustment (COLA) beneficiaries got in 2022.

But a recent Motley Fool study shows that more than half of retired Americans feel that next year's 8.7% COLA won't be enough to help Social Security recipients keep pace with inflation or gain buying power in light of it. And given the way previous COLAs have failed seniors in the past, it's easy to see why so many retirees feel this way.

Image source: Getty Images.

Continue reading

Source Fool.com