We're still months away from knowing how big of a raise Social Security recipients will receive in 2024. But it's not too early to start thinking about it.

That's exactly what the Senior Citizens League has done. The nonpartisan group that advocates for seniors released a statement last week that estimated the Social Security cost-of-living adjustment (COLA) for next year could be 2.7%. Here's why that percentage could be too high. 

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Source Fool.com