Seniors: Here's How Inflation Could Affect Social Security in 2023

While we won't know for certain how inflation will affect Social Security until later this year, there are a few things retirees can look out for. Every year, Social Security benefits receive a cost-of-living adjustment, or COLA. If you haven't yet reached your full retirement age (FRA) and you continue to work after claiming Social Security, you could temporarily lose your benefits depending on how much you're earning from your job.