CAN I MANAGE MY EXPENSES WITH COLA 2023?

Social Security Recipients going to get increased benefits, which might be the biggest in 40 Years

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Based on the current inflation rate, COLA 2023 could increase by 9%

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This COLA increase is good news for retirees, BUT don't you think it's directly proportional to inflation?

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Yes, it's going to increase your cost of living, in other words, your expenses.

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Already, prices of essentials increased compared to last year

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According to the Bureau of Labor Statistics, let us see some facts to understand Retirees spending patterns

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5 big expenses

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for HOUSING

[{"selector":"#anim-f9d81be5-6a16-4225-bcf3-7f8400f9ca43","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c7751b90-2811-48e0-a91f-4ed561a50d0e","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-e9867c9d-3d39-4910-9d86-28e1b556f36d","keyframes":[{"offset":0,"transform":"translate3d(0, -350.23635%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -98.48646162%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -33.48259506%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -12.573484965%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -5.46368706%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":4000,"fill":"both"}] [{"selector":"#anim-a377c5a8-2008-479d-881f-bb1bc5e9fd2d","keyframes":[{"transform":"rotate(-540deg) scale(0.1)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}] [{"selector":"#anim-ed7877e8-92a0-48ec-a0b4-589993600c6a","keyframes":[{"offset":0,"transform":"rotate(-1deg) translate3d(0, -439.40168%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-1deg) translate3d(0, -123.55975241600001%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-1deg) translate3d(0, -42.006800608%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-1deg) translate3d(0, -15.774520312%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-1deg) translate3d(0, -6.854666207999999%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":4000,"fill":"both"}] [{"selector":"#anim-d55a1a18-b327-411d-9851-90f68848b30e","keyframes":[{"transform":"rotate(-540deg) scale(0.1)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}] [{"selector":"#anim-405a5a1a-cd8b-49ed-a30c-5ce9e935b0b9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.233351717423265%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

for HEALTHCARE

[{"selector":"#anim-2ca3b6da-990e-48e9-ad9c-3a6f6164b983 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.233351717423265%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-398e42cd-5ad4-4794-9566-f075fa49b7cd","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-ab9d92aa-43ba-48e1-a765-7965fd489da0","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-ac8683c1-0352-4c33-83f7-6651a5ef7627","keyframes":[{"offset":0,"transform":"translate3d(0, -350.23635%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -98.48646162%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -33.48259506%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -12.573484965%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -5.46368706%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":4000,"fill":"both"}] [{"selector":"#anim-1905036f-e48e-4858-9b54-8d96568d411d","keyframes":[{"transform":"rotate(-540deg) scale(0.1)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}] [{"selector":"#anim-fc3682ce-2b4c-4739-ad52-8a755a9196bf","keyframes":[{"transform":"rotate(-540deg) scale(0.1)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}] [{"selector":"#anim-7cdf9b18-8436-4b95-8d77-4721fd6787ae","keyframes":[{"offset":0,"transform":"rotate(-1deg) translate3d(0, -439.40168%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-1deg) translate3d(0, -123.55975241600001%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-1deg) translate3d(0, -42.006800608%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-1deg) translate3d(0, -15.774520312%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-1deg) translate3d(0, -6.854666207999999%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":4000,"fill":"both"}]

for FOOD

[{"selector":"#anim-26a66486-bb22-4916-99a2-9c0b574859cd [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.233351717423265%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-2b09752d-2832-4787-861e-b5eebdec3632","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-d8c7a6a3-c274-48f7-91d4-fe64c6e6280a","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-d57c5578-4b63-4077-8f84-14463c6c5ae7","keyframes":[{"offset":0,"transform":"translate3d(0, -350.23635%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -98.48646162%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -33.48259506%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -12.573484965%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -5.46368706%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":4000,"fill":"both"}] [{"selector":"#anim-1195ea2e-9792-4bed-ac73-fa76110f86f3","keyframes":[{"offset":0,"transform":"rotate(-1deg) translate3d(0, -439.40168%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-1deg) translate3d(0, -123.55975241600001%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-1deg) translate3d(0, -42.006800608%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-1deg) translate3d(0, -15.774520312%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-1deg) translate3d(0, -6.854666207999999%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":4000,"fill":"both"}] [{"selector":"#anim-fc940767-1434-47b4-8b40-9a8173972097","keyframes":[{"transform":"rotate(-540deg) scale(0.1)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}] [{"selector":"#anim-bd81720f-9393-43b5-a0fb-15630aac2caf","keyframes":[{"transform":"rotate(-360deg) rotate(-540deg) scale(0.1) rotate(360deg)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}]

for UTILITIES

[{"selector":"#anim-97ba6f90-7b08-47c3-bff1-4cba1ea2c6df [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.233351717423265%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-b83b8403-d531-4ce5-8d29-86696ce3098b","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-74260129-cf8d-4dfc-b502-08d5f12b7b7b","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-17788b0d-cef8-4ae7-8ec7-72ee34e625ff","keyframes":[{"offset":0,"transform":"translate3d(0, -350.23635%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -98.48646162%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -33.48259506%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -12.573484965%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -5.46368706%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":4000,"fill":"both"}] [{"selector":"#anim-1935ab50-a5c2-4dc9-94b3-881d6400a3a7","keyframes":[{"transform":"rotate(-540deg) scale(0.1)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}] [{"selector":"#anim-642a867c-b05d-4145-8ee8-79f23ccaf626","keyframes":[{"transform":"rotate(-540deg) scale(0.1)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}] [{"selector":"#anim-e37805db-6e22-443d-bfb3-9792ed5ef450","keyframes":[{"offset":0,"transform":"rotate(-1deg) translate3d(0, -439.40168%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"rotate(-1deg) translate3d(0, -123.55975241600001%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"rotate(-1deg) translate3d(0, -42.006800608%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"rotate(-1deg) translate3d(0, -15.774520312%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"rotate(-1deg) translate3d(0, -6.854666207999999%, 0) rotate(1deg)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"rotate(-1deg) translate3d(0, 0%, 0) rotate(1deg)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":4000,"fill":"both"}]

OVERALL

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Food, Utilities and Gas Prices increases in double digits, in that case even a 9% increase in COLA may not be enough to cover these expenses.

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So its always better to have controlled inflation, though the increase in COLA is less in that scenario

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Gasoline Prices coming down Federal Reserve taking steps to bring down the inflation

[{"selector":"#anim-8aff4e94-caf0-4622-8522-a5d14846d6b6 [data-leaf-element=\"true\"]","keyframes":{"transform":["undefined translate(NaN%, NaN%) scale(1.5)","undefined translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-55374c96-eb89-4ac0-99ba-0b653e2a673f","keyframes":[{"offset":0,"transform":"translate3d(0, -168.50694%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -47.384151528%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -16.109263463999998%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -6.049399146%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -2.6287082639999997%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1600,"fill":"both"}] [{"selector":"#anim-3a5156ba-a97d-465b-9bab-b9c6acb213f5","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-289e7f71-8a1a-4deb-ae1c-283ee408fbed","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Still, around 64 million Americans who will benefit from social security are eagerly waiting for the upcoming COLA increase!

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More TO WATCH NOW

[{"selector":"#anim-9aa52168-d76b-4754-8d31-4d35cac14470","keyframes":{"opacity":[0,1]},"delay":250,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5f442bd6-766b-4b5a-b630-46d1a0f619ac","keyframes":{"opacity":[0,1]},"delay":750,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] SOCIAL SECURITY BENEFITS 14 SURPRISING FACTS ABOUT CPI

Share With Your Friends and Family for whom this information might be useful

[{"selector":"#anim-fa2254e8-5146-45d4-85ef-87b267972a31","keyframes":[{"offset":0,"transform":"translate3d(0, -247.47881%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -69.591041372%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -23.658974236000002%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -8.884489279%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -3.860669436%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1600,"fill":"both"}] [{"selector":"#anim-aa2eab88-14fb-4618-ae1d-e48b6d6c74c9","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-0aa63c2f-16bb-4f9e-a599-a6614a5c5589","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-ab4ed2f8-fdab-4e5d-89a2-d0e9b3250bb9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.349709261057818%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":5000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

CAN I MANAGE MY EXPENSES WITH COLA 2023?

Social Security Recipients going to get increased benefits, which might be the biggest in 40 Years

BIGGEST IN 40 YEARS

Based on the current inflation rate, COLA 2023 could increase by 9%

COLA 2023

This COLA increase is good news for retirees, BUT don't you think it's directly proportional to inflation?

INflation

Yes, it's going to increase your cost of living, in other words, your expenses.

expenses

Already, prices of essentials increased compared to last year

ESSENTIALS

food 11%

gas 44%

UTILITY 19%

According to the Bureau of Labor Statistics, let us see some facts to understand Retirees spending patterns

RETIREES SPENDINGS

5 big expenses

HOUSING

UTILITIES

TRANSPORT

FOOD

HEALTHCARE

for HOUSING

RETIREES SPENDs

35% of Monthly budget

33% of Monthly budget

All US Households Spends

for HEALTHCARE

RETIREES SPENDs

$6833/yR

$5193/YR

All US Households Spends

for FOOD

RETIREES SPENDs

All US Households Spends

40% of Monthly budget

39% of Monthly budget

for UTILITIES

RETIREES SPENDs

$3810/yR

$4055/YR

All US Households Spends

OVERALL

RETIREES SPENDs

$50220/yR

$63036/YR

All US Households Spends

Food, Utilities and Gas Prices increases in double digits, in that case even a 9% increase in COLA may not be enough to cover these expenses.

EXPENSES VS COLA

So its always better to have controlled inflation, though the increase in COLA is less in that scenario

control inflation

Gasoline Prices coming down Federal Reserve taking steps to bring down the inflation

good news

Still, around 64 million Americans who will benefit from social security are eagerly waiting for the upcoming COLA increase!

waiting

More TO WATCH NOW

Share With Your Friends and Family for whom this information might be useful

SHARE WITH YOUR FRIENDS