I'd love to tell you i never saw this coming. But it's just the beginning of the end.
A place for working class Whites to discuss the op thoughtfully. Boomers face 50 percent cut to Social Security ahead of COLA changes Story by Patrick O'Donnell • 1mo Boomers are reportedly set to lose out next year once 2024's cost-of-living-adjustment to Social Security is implemented. This generation is recognized as including those born between 1946 and 1964 with many of them already receiving retirement payments. If current predictions for next year's COLA come to fruition, this age group may receive a real-term pay cut. As it stands, Boomers are likely to see their Social Security entitlement slashed because they paid more into the system. Furthermore, this generation is on average more reliant on the support provided than other age demographics. COLA is the acronym that refers to the annual payment hike to Americans' Social Security payments. In 2023, the adjustment increased to a four-decade-high of 8.7 percent in the ...