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Social Security Beneficiaries Will Enjoy

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The benefits increase for Social Security that takes inflation into account is known as a COLA.

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The Social Security Administration announced an 8.7% cost-of-living increase for 2023.

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This 8.7% "raise" represents the greatest percentage increase in 41 years.

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This buying power loss ought to somewhat decrease in 2023.

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The majority of the purchasing power that seniors have lost over the previous 22 years has not even come close to being recovered by seniors.

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For seniors, who matter the most, CPI-W performs a lousy job of tracking inflation.

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This is what has caused recipients to continually lose buying power.

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Your retirement income may increase thanks to "Social Security secrets."