Social Security Benefits Are Rising in 2023 -- but You'll Shrink Yours If You Do This
Millions of seniors regard Social Security as a major retirement income source. And for some, those monthly benefits are their only source of income.
Meanwhile, seniors on Social Security recently got a bit of good news. In 2023, benefits will be eligible for an 8.7% cost-of-living adjustment (COLA), and that could go a long way toward helping recipients maintain their buying power as living costs surge.
But if you're not careful, you could end up shrinking your Social Security benefits next year. And that's a mistake you might then regret for the long haul.
Source Fool.com