Inflation continues to affect seniors, who according to new Census data, are collectively experiencing more poverty.
and will meet again September 19-20 to discuss another potential rate hike.
In this photo illustration, a Social Security card sits alongside checks from the U.S. Treasury on October 14, 2021 in Washington, D.C. The Social Security Administration will announce seniors' cost of living adjustment in mid-October, expected to pale in comparison to the current 8.7 percent rate.The amount of COLA is calculated based on the annual inflation adjustment.
A TSCL retirement survey of approximately 2,260 students found that 37 percent of retirees spend between $1,001 and $1,999 per month, and 37 percent spend between $2,000 and $3,999. About 8 percent spend less than $1,000 and just 4 percent spend over $6,000.
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