There's Some Bad News About 2022's Big Social Security Raise
If you receive Social Security benefits, you may have been pleased when you heard about the huge cost-of-living adjustment (COLA) coming in 2022. For the first time since 2008, retirees are getting a raise topping 5%. To be exact, benefit recipients will see a 5.9% boost in their monthly payout at the start of the year. That's the largest increase since 1981.
Before you get too excited, though, there are three big reasons why a big benefits bump might actually be bad news for retirees. Let's take a look at what they are.
Image source: Getty Images.
Source Fool.com
