We're About 2 Months Away From a Major Social Security Announcement

·3 min read
We're About 2 Months Away From a Major Social Security Announcement

As such, many retirees have been depending more on their Social Security income so they can leave their portfolios alone and avoid taking losses. Meanwhile, each year, Social Security benefits are subject to a cost-of-living adjustment, or COLA. The purpose of COLAs is to help ensure that seniors are able to maintain their buying power as living costs rise due to inflation.