The topic of inflation has many people wondering if there really is always an upside to everything.

Aside from a few extremes, some people would say there are pros and cons to every aspect of life. Yet the state of the economy as 2023 gets going has us seeing considerably more cons than pros.

Some pieces out there paint inflation as a positive, citing increases in the Social Security Cost-of-Living Adjustment (COLA) and other factors as proof.

But even if benefits are going up and certain costs like taxes go down, inflation is still a problem. But could we find one positive in this situation?

The Impact of Inflation for Retirees in Q4 2022

Looking back at last year, it seems that prices continued to rise as the months passed.

A combination of factors, including economic shutdowns, money printing, and more, has made the dollar’s value dwindle, and seniors are feeling it in their wallet.

Those who try to spin it as a positive will say that the record COLA increase proves this situation is a win for seniors. But as we’ve covered, this COLA needed to be much higher to really make a difference financially for most older Americans.

Sure, seniors may be left with more money after paying taxes in adjusted brackets. Savings accounts may get a rate boost. But the money we have left still has less buying power. From an economic standpoint, inflation is bad news all around for the average senior.

But if there’s one upside, it’s that this situation is making us take notice — and seniors have a way to make their voices heard.

Will You Help Us Minimize the Impact of Inflation?

As prices rise, so do the concerns of America’s seniors. We work tirelessly to ensure America’s seniors are represented on the legislative floor, and that yearly record-breaking COLAs become a reality.

Help us keep the pressure on Congress to pass legislation that puts retirees first! Please follow us on Facebook and Twitter for more news about this crucial topic.