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Not so new news: Social Security’s purchasing power has declined
For over 60% of America’s seniors, Social Security represents over 50% of their retirement income. And with Cost of Living Adjustments (COLA) being painfully low in recent years as well as the ever increasing rise in expense categories such as healthcare, the purchasing power of those Social Security dollars has declined by about 30% in the past 10 years. This article by Sean Williams of The Motley Fool explores why Social Security’s purchasing power has plummeted. Click here to read more.
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