2 Social Security Changes That Could Hurt You Financially in 2023
Although Social Security has been around for many decades, the program tends to undergo certain changes every year. And those changes can be a mixed bag.
Now let's talk about some good news first. In 2023, seniors on Social Security will get to enjoy their largest raise in decades -- an 8.7% cost-of-living adjustment (COLA). The hope is that a raise that large will help seniors regain some buying power in the face of inflation and avoid some of the struggles they may have faced this year.
Another positive Social Security change coming down the pike? The earnings-test limit is rising. This means that early Social Security filers who opt to continue working will get the option to earn more money without having it impact their benefits.
Source Fool.com
