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Here's How Much Past Social Security Increases Have Actually Helped Retirees

TheMotleyFool

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Here's How Much Past Social Security Increases Have Actually Helped Retirees: https://g.foolcdn.com/editorial/images/704719/2-people-with-concerned-expressions-looking-at-document.jpg

After months of being hammered by inflation, retirees have some relief on the way. The Social Security Administration (SSA) recently announced a benefits increase of 8.7%. It's the biggest "raise" for Social Security recipients in over 40 years.

But just how excited should seniors be about the upcoming cost-of-living adjustment (COLA)? Maybe not as much as you'd expect. Here's how much past Social Security increases have actually helped retirees.

Image source: Getty Images.

Source Fool.com

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