Retirees are often thought to be living on fixed incomes, but most of them are collecting Social Security benefits, and those benefits are not exactly fixed -- because they're increased nearly every year via cost of living adjustments (COLAs).

Social Security’s annual cost-of-living adjustment (COLA) helps keep retirees afloat as inflation erodes purchasing power. But this year, it’s sparking some anxiety. Millions of Americans are facing tough questions about how to stretch their money with a modest 2.

The Social Security Administration's 2024 Cost of Living Adjustment (COLA) has left many beneficiaries feeling shortchanged. As inflation continues to rise, the modest increase in benefits may not be enough to cover the growing cost of living.