Will You Be Disappointed By Next Year's Social Security Raise?
Social Security retirees are getting a cost-of-living adjustment (COLA) in 2024 that will result in larger benefit checks. Most people refer to this benefits increase as a raise.
COLAs are in place to protect retirees against the effect of inflation. When a consumer price index shows the cost of goods and services are going up, benefits are increased so seniors don't lose buying power.
However, while seniors getting Social Security benefits will see more money in their checks next year, the raise could come as a disappointment. Here's why.
Source Fool.com
