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

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.

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Source Fool.com