2.5% Social Security COLA increase to take effect, yet may not meet rising retiree expenses amid inflation and cost hikes.

Social Security is set to implement a 2.5% cost of living increase, but many retirees may find it insufficient to meet rising expenses. Experts suggest that this adjustment will not significantly alleviate financial pressures for some seniors, especially given the ongoing inflation and increased costs of essentials. As a result, the increase may not provide the necessary support that many retirees require.

October 09, 2024
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