Social Security's 2023 COLA: It's a Good News/Bad News Scenario
For most retirees, Social Security is a financial lifeline they simply couldn't do without. When national pollster Gallup surveyed retirees earlier this year, it found that just shy of 90% of beneficiaries needed their Social Security income to make ends meet.
Given the importance of Social Security to the financial well-being of our nation's seniors, there's no announcement more anticipated than the annual cost-of-living adjustment (COLA). This-year's announcement will come on October 13, 2022 at 8:30 a.m. ET.
While the 2023 COLA offers plenty of promise on the surface, it becomes more of a good news/bad news scenario when you really dig into it.
Source Fool.com
