The most important day of the year for the more than 66 million people who receive a Social Security benefit each month is nearly here. This coming Thursday, Oct. 12, 2023, at 08:30, a.m., ET, the Social Security Administration (SSA) will announce the 2024 cost-of-living adjustment (COLA).

Given that between 80% and 90% of current retirees lean on their monthly payout to cover at least some portion of their monthly expenses, any announcement that pertains to a potential beefier monthly check is going to command attention. 

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Source Fool.com