Sorry, Your Huge Social Security Increase Won't Be Enough
It's practically a slam dunk that Social Security recipients will soon receive the biggest benefits increase in a generation. Hip, hip, hooray? You might want to curb your enthusiasm.
Sure, experts are predicting a Social Security cost-of-living adjustment (COLA) in the ballpark of 8.7%. This extra money on the way will help many individuals on fixed incomes make ends meet. That's the good news. There's also some bad news, though. Sorry, your huge Social Security increase won't be enough to accomplish what it's intended to do.
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Source Fool.com
