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Social Security's 2023 COLA Will Be Smaller Than Expected. That's a Good Thing.

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Social Security's 2023 COLA Will Be Smaller Than Expected. That's a Good Thing.: https://g.foolcdn.com/editorial/images/702422/two-people-sitting-in-a-kitchen-looking-at-a-laptop.jpg

Next month, the Social Security Administration will announce the cost-of-living adjustment (COLA) for 2023.

This adjustment is supposed to help benefits keep pace with inflation. And because inflation has surged at a historic pace this year, retirees can expect a significant boost in benefits.

However, while we won't know the official COLA until mid-October, there are signs suggesting that it may not be as large as expected. Here's why that's actually a good thing.

Source Fool.com

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