A 6% Social Security COLA Could Be a Double-Edged Sword
Josephine Nesbit of Yahoo Finance suggests not getting too giddy about a possible 6.2% increase in Social Security benefits in just over four months. Medicare premiums will also be going up, eating into any increase. And as Patrick Hubbard, research associate at the Center for Retirement Research at Boston College, told CNBC, “everything is 6% more expensive these days and is only the minimum needed to maintain the purchasing power that you’ve had all along.” Thus, no one is likely to come out ahead. Full piece here.