Social Security Benefits and Inflation: 4 Key Points

Social Security increases with inflation, which protects a lot of retired folks from the effects of inflation on their later years. Living an additional 20-30 years without an increase in income would be devastating when food and gas are increasing faster than they have in a long time. There are drawbacks, however, to the increase of benefits that retirees should know about, especially when incorporating this information into their retirement and financial plans.