58 million Americans who receive Social Security retirement benefits will have to make do without a raise next year. It's expected that the Social Security Administration won't be giving a "Cost of Living Adjustment" ("COLA") to Social Security recipients in 2011.
On WCBS-TV, I discussed why seniors will be frozen at 2010 levels and the larger, more dangerous issue that lurks for Americans worried about retirement.
Jill Schlesinger
Jill Schlesinger, CFP® is the Emmy-nominated business analyst for CBS News. She covers the economy, markets, investing and anything else with a dollar sign on TV, radio (including her nationally syndicated radio show), the web and her blog, "Jill on Money." Prior to her second career at CBS, Jill spent 14 years as the co-owner and chief investment officer for an independent investment advisory firm. She began her career as a self-employed options trader on the Commodities Exchange of New York, following her graduation from Brown University.