This Was the Average Social Security Benefit in 1984, and Here's What It Is Now

Social Security has been a financial lifeline for retirees for decades, but it hasn't stayed the same. If we jump back 40 years to 1984 -- when VHS tapes and cassette players were all the rage -- you'll see how much inflation has eroded purchasing power over the decades. Today's Social Security checks look a lot different to help keep up with those changes.Image source: Getty Images.Over the past 40 years, Social Security benefits have gotten a steady upgrade -- and it's no accident. Thanks to annual cost-of-living adjustments (COLAs) introduced in 1975, these benefits are designed to keep pace with inflation and help retirees maintain their buying power. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool