Next Year's Social Security Raise Will Probably Be Meager, at Best

Next Year's Social Security Raise Will Probably Be Meager, at Best

Seniors who rely on Social Security for the bulk of their retirement income tend to have ongoing financial concerns and constraints. It's for this reason that Social Security raises, known as cost-of-living adjustments, or COLAs, are crucial. When the CPI-W indicates that the cost of common goods and services has gone up, seniors become eligible for a raise.