In recent years, the un-retirement rate of the US has dramatically increased (and it’s still climbing)!
Over the next decade, the number of employees ages 75 and up is expected to rise by 96% (according to the Labor Stats) with many returning to an unrecognizable workforce.
What’s it all mean?
PEOPLE aren’t retiring. Although they may have funded retirement accounts and DESPITE working full-time jobs and doing what they were “supposed to do.”
The markets today are punishing traditional retirement plans. Most economists expect taxation to continue to keep retirement income on the ropes. So you are learning that investment assets alone won't secure your retirement, securing enough income will.
Those making bets have predicted that the cost-of-living adjustment (COLA) for Social Security recipients in 2023 may set a 40-year record as inflation continues to drive up prices of food, clothing, fuel, rent and other living expenses. COLAs have been low for years until now.
FYI - The Social Security benefit COLA is based on the percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) between the third quarter of last year and the third quarter of this year (which ended Sept. 30). The U.S. Bureau of Labor Statistics announces monthly inflation index figures.
Is your COLA competing adequately with REAL inflation?
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