Fixed income. It's a fact of life for most retirees. However, the good news is that income isn't completely set in stone.

Every year, the Social Security Administration (SSA) determines how much of a cost-of-living adjustment (COLA) beneficiaries will receive. The most recent adjustment was 8.7% -- the highest in four decades.

But retirees shouldn't expect such a big raise in 2024. Here's why Social Security's COLA could be cut in half next year.

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Source Fool.com