Mark Your Calendar: Aug. 12 Is an Important Date for Social Security Retirement Beneficiaries
Next year's benefits will be partially determined by a new data set published this month.
Overview
Social Security is the cornerstone of many retirees' budgets. But with rising costs for just about everything, many retirees are struggling to keep up with inflation. That's why the annual cost-of-living adjustment, or COLA, gets so much attention. And Aug. 12 could be a key date for determining just how much of a bump retirees will receive in their monthly payments next year.
Aug. 12 marks the release of the Consumer Price Index for the month of July. It's an important piece of data that will factor into next year's COLA. Here's what retirees should look for.
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Details
Source
Originally published at www.fool.com.
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