EKS Associates Senior Wealth Advisor Darren Zagarola, CFP®, CPA/PFS, was recently featured in NJMoneyHelp addressing a question many retirees and pre-retirees have asked during periods of rising prices:
Will inflation make my Social Security benefit worth more?
In his response, Darren explains that Social Security benefits are periodically adjusted through Cost-of-Living Adjustments (COLAs), which are designed to help beneficiaries maintain their purchasing power as the cost of goods and services rises.
Darren addresses whether it’s necessary to begin collecting Social Security benefits early to take advantage of the expected large COLA discussed by the U.S. Department of Labor.
The NJMoneyHelp article focuses specifically on the relationship between a cost-of-living adjustment and the timing of Social Security benefits.
However, when Darren speaks with his clients, he dives deeper, discussing how different retirement income sources affect their broader retirement plans.
Learn more about Darren’s approach and how he helps retirees and pre-retirees achieve and maintain financial independence through comprehensive fee-only financial planning and retirement planning.
Read the full article on NJMoneyHelp: Will inflation make my Social Security benefit worth more?
