Here's Why Oct. 13 Is Social Security's Most Important Day of the Year
For most aged Americans, Social Security is imperative to their financial well-being. An April survey conducted by national pollster Gallup found that 84% of non-retirees believe Social Security will represent a "major" or "minor" source of income during their golden years. Meanwhile, 89% of existing retired workers are currently leaning on their Social Security income, to some degree, to make ends meet.
Given how important monthly Social Security checks are for seniors, there simply isn't a more anticipated annual announcement than the cost-of-living adjustment (COLA).
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Source Fool.com