Motley Fool
Say Goodbye to Your 11.4% Social Security Raise in 2023
For the vast majority of aged Americans, Social Security income is indispensable. National pollster Gallup found that nearly 90% of current retirees lean on their monthly payout to make ends meet, while 84% of future retirees expect to rely on their Social Security check to some varying degree during their golden years. Considering how important Social Security is to the financial well-being of current and future retirees, no annual announcement takes more precedence than the cost-of-living adjustment (COLA), which is due out during the second week of October.
