Here's Why Oct. 12 Is Social Security's Most Important Day of the Year
For a majority of the more than 49 million retired workers who receive a Social Security check each month, this payout is an absolute necessity. Over the past 20 years, national pollster Gallup has conducted annual surveys and found that between 80% and 90% of retired workers lean on their monthly benefit check to some degree to make ends meet.
Considering how important Social Security income is for seniors during their golden years, it should come as no surprise that the annual cost-of-living adjustment (COLA) is the most anticipated Social Security announcement each year.
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Source Fool.com