Social Security's 2026 Cost-of-Living Adjustment May Surprise Retirees
Many older Americans today would not be able to get by without Social Security. The Federal Reserve puts median retirement savings among 65- to 74-year-olds at just $200,000 as of 2022.That's not a lot of money to spread out over what could be 20 years of retirement or more. So naturally, people without much savings commonly end up falling back on Social Security to cover the bulk of their bills.Image source: Getty Images.Continue reading
Many older Americans today would not be able to get by without Social Security. The Federal Reserve puts median retirement savings among 65- to 74-year-olds at just $200,000 as of 2022.
That's not a lot of money to spread out over what could be 20 years of retirement or more. So naturally, people without much savings commonly end up falling back on Social Security to cover the bulk of their bills.
Image source: Getty Images.
