Retirees Are Returning to Work After the Latest Social Security Cost-of-Living Adjustment (COLA)
It's hardly a secret that retiring on Social Security is not an ideal situation. Those benefits will only replace about 40% of pre-retirement wages for average earners. And that doesn't account for potential benefit cuts, which may be on the table in about a decade's time as Social Security's trust funds run dry.
But it's not just that Social Security benefits only provide a limited amount of replacement income. It's also that the program's cost-of-living adjustments, or COLAs, do not do a very good job of helping beneficiaries maintain their buying power as inflation drives living costs upward.
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Source Fool.com
