Social Security Benefits Have Lost 30% of Their Value in the Past Two Decades. Here's Why

Social Security benefits are supposed to be protected against inflation because seniors receive cost-of-living adjustments (COLAs) most years. This is important as millions of Americans rely on them as a primary source of income, or even as the sole source of income in retirement. 

Unfortunately, COLAs aren't doing a very good job of making sure retirement benefits retain their value. In fact, a disturbing new study from Senior Citizens League reveals Social Security benefits have lost 30% of their buying power between January 2000 and January 2020. And, sadly, this isn't likely to change any time soon, so future retirees can expect the value of these earned benefits to continue to fall, providing them with even less in their later years. 

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Source Fool.com