Boost to cost of living adjustment may feel negligible to many recipients
The Social Security Administration said Thursday it’s dropping its cost-of-living adjustment to 1.6% for 2020.
#BREAKING! Nearly 69 million Americans will get a 1.6% increase in monthly #SocialSecurity and #SSI benefits in 2020. Check #SocialSecurityMatters later this morning for more information: https://t.co/BDNvNs2Opi #COLA #2020COLA Young workers may spend between 7% to 10% of their money on health care, while older Americans can expect to spend 12% to 25%, said Johnson, who has been tracking COLA since 1996.
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