Tag: income
![African American businesswoman raising hand, asking question in business conference](https://crr.bc.edu/wp-content/uploads/2022/11/older_workers_8-1536x1024.jpg)
Introduction Since the mid-1960s, the median retirement age for men has declined from 66 to 63. If Americans continue to retire at age 63, a great many will risk income shortfalls, especially at older ages. This risk is even greater for those currently nearing retirement who have recently seen a large portion of their nest…
![Social Security Card: Senior woman holding card in hand on white background](https://crr.bc.edu/wp-content/uploads/2022/11/social_security_4-1536x913.jpg)
Introduction Today, the Social Security Administration announced that benefits payable in December 2008 would be increased 5.8 percent beginning January 1, 2009. This cost-of-living-adjustment (COLA) – the largest in 26 years – is an important reminder that keeping pace with inflation is one of the attributes that makes Social Security benefits such a unique source of…