Social Security provides cost of living updates. But for those with additional money to invest, inflation can eat into more conservative investments like cash and bonds.
The list includes dwindling trust funds for Social Security and Medicare and potential bubbles in the housing and stock markets.
Additional coronavirus aid for state and local governments is a likely point of contention.
A lot of older Americans rely on Social Security benefits to pay their bills.
Does it change if you’re single or married?
Seniors will get an extra 1.6%. But their cost of living rose by 1.9%.
The origin story of 65 can be traced back to the 30s, when President Roosevelt sought to make retirement available to everyone.
The post-crisis financial policy has a downside.
How much? About $13 billion in 2016.