The biggest announcement of the year is within sight, but it's likely to leave Social Security's more than 70 million beneficiaries disappointed.

The biggest day of the year for Social Security's more than 70 million beneficiaries is right around the corner.

With an overwhelming majority of retirees reliant on their Social Security income , in some capacity, to make ends meet, knowing how much they'll receive on a monthly basis in the new year takes on heightened importance. This is where the annual unveiling of the cost-of-living adjustment (COLA) comes into play .

What is Social Security's COLA, and when will it be announced?

The COLA you've probably been hearing about frequently in recent weeks is the Social Security Administration's (SSA's) tool designed to counteract the effec

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