3 Reasons Why the Latest Social Security Increase Is Bogus

More than 42 million retired workers depend on Social Security to cover their bills in retirement. And while those benefits are calculated on an individual level based on each worker's 35 years of highest earnings, that doesn't mean they're set in stone. Rather, ever since 1975, Social Security recipients have been eligible for automatic cost-of-living adjustments, or COLAS, which are designed to help seniors retain their buying power in the face of inflation.

But recent history hasn't been kind to enrollees who depend on those COLAs to stay afloat financially. In 2017, recipients got a mere 0.3% increase in their benefits, while 2016 saw no COLA at all.

Here's what I think of your COLA. Image source: Getty Images.

Source: Fool.com