Who's Ready for a $59-Per-Month Social Security Benefit Increase?
Whether you're just entering the workforce or you hung up your work coat years ago, there's a very good chance that Social Security will play, or is already playing, an important role in your retirement.
For more than two decades, national pollster Gallup has been surveying retirees and non-retirees to gauge their current or expected reliance on Social Security income to make ends meet. For retirees, no fewer than 80% of respondents lean on their monthly benefit as a "major" or "minor" source of income. Meanwhile, anywhere from 76% to 88% of future retirees anticipate counting on their Social Security income, to some degree, to cover their expenses.
Given the crucial role Social Security income plays for most Americans, there's no event that's more anticipated than the annual cost-of-living adjustment (COLA) announcement, which is now just 18 days away (Oct. 12, 2023).
Source Fool.com
