2021 Social Security Increase Not Enough for Retirees

Retirement Planning
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Many people believe they can rely solely on their Social Security benefits to cover expenses during retirement. However, Fox Business reports that the average benefits to be collected in 2021 will be $1,543 a month.

This increase is a mere $20 more a month for the average senior citizen claimant. This increase is not enough.

The calculated 1.3% cost-of-living adjustment (COLA) does not account for many expenses that retirees and senior citizens have each month.

This is why the Senior Security Alliance is fighting for change. Our bill, The Senior Citizens Bill of Rights, details the need for COLA to factor in the continually increasing costs of healthcare. To find out how you can help, go here.

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