Social Security Recipients: Mark Your Calendars for Oct. 15
If you have been in a grocery or convenience store recently, you've likely noticed how expensive a lot of items are compared to previous years. Whether it's eggs, chicken, or chips, the increase is noticeable. This is a problem for many people, but especially Social Security recipients, who may rely entirely or mostly on benefits to survive and are on a fixed income.
To help deal with inflation, Social Security applies a cost-of-living adjustment (COLA) that's intended to help retirees keep more of their purchasing power. It's one of the most, if not the most, crucial parts of the Social Security program.
The reason to mark Oct. 15 on your calendar is that it's when Social Security releases its official annual COLA number.
Source Fool.com
