Social Security's 2023 Raise Could Have a Massive Downside for Some Seniors
Social Security checks are expected to get a massive boost in 2023, thanks to an above-average cost-of-living adjustment (COLA). This is supposed to help recipients' checks keep up with sky-high inflation, but it could carry a hidden cost for some seniors. Here's what you need to know if you want to avoid an unpleasant shock.
The official 2023 Social Security COLA will be announced in October 2022. It's based on third-quarter inflation data. Since we're only about halfway through the third quarter right now, all we can do is speculate.
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Source Fool.com
