How Does the 2023 COLA Stand Up to Inflation?


We’ve talked a lot about the 2023 Cost-of-Living Adjustment (COLA), both in the months leading up to it and since it has taken effect.

As NORA readers will recall, we’ve questioned whether the record increase could stand up to inflation. As costs continue to rise and purchasing power sinks, seniors are feeling the strain.

CBS’s Carter Evans recently interviewed one senior who spoke in detail about her struggles. She said rent and food had gone up for those around her, and they were all struggling. Many people lacked retirement through their employer and relied on Social Security as well as other government programs.

The woman interviewed also worried she’d have to go get a job again, but questioned whether anyone would hire an 81-year-old.

Has inflation put you in this type of position? We want to hear your thoughts. Share your opinion, then follow us on Facebook and Twitter.