Social Security's Largest Raise in Decades May Not Be a Good Thing
For years, seniors on Social Security have been handed meager raises. Some years, in fact, they've gotten no cost-of-living adjustment (COLA) at all.
But 2022 is shaping up to be different. That's because come next year, seniors may be in line for their most substantial raise in decades. In fact, early estimates are pointing to a 6.2% increase in benefits. But that may not actually be a good thing.
On the one hand, getting more money in their benefits will be helpful for many seniors. But when we think about why Social Security benefits are going up next year, it's clear that 2022's raise is really a mixed bag.
Source Fool.com
