I'm Not Counting on Social Security COLAs to Carry Me Through Retirement. Here's What I'm Doing to Combat Inflation Instead.

For a majority of American retirees, Social Security provides more than half of their income. Some live on the program's benefits alone. But most U.S. seniors supplement those benefits with their retirement savings.Built into the program is a regulation that boosts the size of beneficiaries' payments every year via a cost-of-living-adjustment (COLA) that is intended to help Social Security benefits maintain their purchasing power in the face of inflation. However, many argue that the metric used to calculate how large those adjustments should be doesn't fully reflect how rising prices impact seniors, and that, as a result, those COLAs are not keeping pace with real-world inflation.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool