Social Security COLA is Keeping Up with Inflation, or is It?

Inflation in the United States has been falling in 2023 — hitting its lowest level in more than two years in June 1. However, when things cost more, that leaves less for savings. The 2023 Retirement Confidence Survey2 found that two-thirds of retirees worry that the increasing cost of living will make it harder for them to save money. In addition, 58% are concerned they will have to make substantial cuts to their spending. Inflation impacts everyone, especially those living on a fixed income in retirement. Is Social Security keeping up with the rate of inflation?  2024 COLA The […]