Report: Social Security Cost-Of-Living Adjustment Not Enough To Cover True Cost Of Aging

Essence Magazine:

By Jasmine Browley· Updated October 29, 2022

Earlier this month the Social Security Administration announced its largest cost of living adjustment in nearly 40 years, which now sits at 8.7%.

Recipients will get $150 more per month into the pockets of those beginning in January to help combat surging living costs due to inflation. But according to reports, it’s not enough.

At the top of this year, the average monthly Social

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