COLA – What is it?

An important factor to our ongoing retirement income is how the Social Security payment grows over time.

This Cost of Living Adjustment, or COLA, is announced annually for the following year.  It might make a few bucks to a few hundred dollars difference monthly, but it all adds up year over year.  It is something to factor into your decision on when to collect Social Security.

Watch as Liz discusses the ins and outs of COLA: