Retiree Woes: Challenges with 2024 Social Security COLA 

Social Security benefits are set to rise by 3.2% in 2024, but dissatisfaction looms.

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Atticus survey: 62% of retirees were dissatisfied with the 3.2% COLA increase.

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Many feel the increase won't cover rising expenses, altering lifestyles.

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64% plan to reduce discretionary spending; 36% plan to cut essentials.

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Some plan to work to cover expenses not offset by the 2024 COLA.

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Key issues: Social Security is not designed to fully fund retirement.

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COLAs often arrive after seniors face increased expenses, causing hardship.

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Concerns over CPI-W's accuracy in reflecting seniors' rising healthcare costs.

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There is widespread worry about Social Security's future solvency and sustainability.

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Proposals for reforms to prevent future cuts in Social Security benefits.

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