Who's Up for a $145 Increase in Social Security Benefits Per Month?

Whether you realise it or not, you'll be relying on Social Security income when you retire, at least to some extent.

Gallup conducted a survey of currently retired workers and nonretirees last month to determine how essential Social Security income is, or will be, in their golden years.

According to the findings, 89 percent of current retirees rely on Social Security income to some extent to make ends meet

 while 84 percent of nonretirees expect it to be a "major" or "minor" source of income in retirement.

Given the significance of Social Security to the financial well-being of tens of millions of retirees

it's no surprise that the annual cost-of-living adjustment (COLA) is the most-awaited announcement of the year.

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