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How Adequate are Social Security COLAs?
As seniors digest the 3.6% Social Security cost-of-living adjustment (COLA) announced yesterday, media accounts of its inability to adequately meet the challenges of inflation are surfacing. For example, a post by Scripps News' business and technology correspondent Maura Barrett presents this analysis: “For the tens of millions of Americans who rely on Social Security, the 3.6% raise is welcome. But Robert Brokamp, senior retirement advisor at The Motley Fool, said many beneficiaries already feel behind.”
Ms. Barrett’s post covers the impact of inflation, both core and final consumer price increases, as well as implications of geopolitical events and their relation to inflation. Check it out here.
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