How Are Social Security Raises Calculated?
In 2018, around 62 million Americans have been promised a little more money in their pockets thanks to a 2% increase in Social Security benefits. But, will these seniors actually have more cash to spend?
Social Security benefits go up periodically because of Cost of Living Adjustments (COLAs). Unfortunately, there are factors in play that make these COLAs worth less than they seem at first glance.
If you're receiving Social Security now or will be in the future here's a helpful primer on how adjustments work so you'll know when and why you get a raise -- and why your raise may not be a real one.
Source: Fool.com
