Did you know that approximately 70 million Americans rely on Social Security benefits? Well, these individuals are in for a little treat. Thanks to the October announcement of the 2023 cost-of-living adjustment (COLA) increase, these individuals can look forward to seeing an 8.7 percent increase in their monthly payments starting in January.

But even though this is the largest COLA in decades, will this really help provide financial security to America’s seniors?

To learn more about COLAs, how they’re made, and why they aren’t enough for the average retiree, check out our other stories on our news page here.

Then, make sure to stay up-to-date on all things relating to Social Security by following us on Facebook and Twitter.