Here's Why a Smaller Social Security COLA for 2024 Is Good News for the Economy
For the past couple of years, seniors on Social Security have had reason to celebrate in October. That's the month when the Social Security Administration announces what the upcoming year's cost-of-living adjustment (COLA) will be. And the raises that have arrived over the past two years have been notably generous.
In January 2022, seniors on Social Security saw their monthly benefits rise by 5.9%. And in January 2023, benefits went up an almost astounding 8.7%.
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Source Fool.com
