Projected Decline in Social Security Cost of Living Adjustment Raise Concerns Among Seniors for 2024

This video discusses the projected decrease in the Social Security cost-of-living adjustment (COLA) for 2024. The 2023 COLA was the largest since 1981, however, the expected adjustment for 2024 is only 3.1%. The decrease in COLA could potentially impact the seniors who rely on these benefits, as the adjustment might not cover the increase in living costs. The Social Security Administration will announce the final COLA for 2024 in October