The Social Security Administration on Thursday will announce the cost-of-living adjustment for Social Security benefits, with recipients expected to see a record increase.
Hennion & Walsh Asset Management president and CIO Kevin Mahn warns more volatility could be in store for the stock market on 'The Claman Countdown.'will find out this week just how big their cost-of-living adjustment will be in 2023 as stubbornly high inflation rapidly diminishes their buying power.
The annual Social Security change is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers, or the CPI-W, which jumped 8.7% over the past year. However, the decades-high benefit increase is not always good news for recipients, according to Johnson.
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