It has only been since the Baby Boomer generation began to cross the retirement threshold that we’ve had to seriously confront the new challenge of our longevity.
Most people are aware that they can begin collecting their Social Security retirement payout at age 62, and, in doing so, they are informed that they will be collecting a reduced benefit. And most people also know that, the longer they wait to collect benefits, they will receive a higher monthly benefit.
No, we're not talking about the soft drink – this COLA is the annual Social Security Cost of Living Adjustment. The Social Security Administration recently announced that there will be no cost of living adjustment for social security payments in 2016, due to continued low levels of inflation. This is only the third time since 1975 social security payments will not adjust f