What does the 2023 Social Security Cost-of-Living Adjustment (COLA) mean to the average senior in America?

To answer this, we must consider what “average” means. This term could indicate anyone living in the middle or lower class. The average person may either be married or single, and likely has some common retiree goals like traveling and spending time with family.

So what do America’s seniors think of this boost? Mike Floyd of the Caswell Messenger gives us a glimpse into the minds of retirees when it comes to the COLA.

While some seniors seem grateful for the increase, they’re honest about the fact that it balances out with inflation. It’s not exactly a boost, and your average retiree is still having to watch their money carefully.

What are your thoughts on the 2023 Social Security COLA? How has it impacted you? Share your thoughts with us then follow us on Facebook and Twitter.