Monthly Archives August 2022

What is COLA, and How Does it Affect Retirement?

The COLA on Social Security is projected to increase benefits by more than 10%. How does that affect your retirement? Inflation in the United States is at a 40-year high, and the entire country seems to be feeling the squeeze of rising prices, regardless of income level. Though the debate over the cause of current inflation rates rages on, one thing seems to be certain: the cost of everyday goods, like rent, gas and food, continues to rise [1]. Understandably, that leaves American consumers with questions and concerns. First, as the value of the dollar decreases, which lifestyle adjustments can
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Categories: Retirement Planning and Social Security.