Posted 11/25/2023, 12:00:19 PM
Social Security COLA Fails to Match Real Inflation, Forcing Retirees to Find Extra Income
- Social Security COLA lags behind real inflation, leaving retirees unable to afford as much
- Costs for some categories like vehicles and medicine rose much faster than COLA
- Retirees can't rely solely on Social Security, need other income sources
- Working in retirement can help cover rising costs and keep retirees active
- Retirees have opportunities for side gigs and consulting to earn extra income