A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related Brickyard terms
- Social SecurityA federal program that pays monthly income to retirees, funded by payroll taxes collected during your working years.
- PensionA retirement plan where your employer promises a set monthly payment for life, usually based on your salary and years worked.
- AnnuityA contract with an insurance company that converts a sum of money into a stream of steady payments over time.
- Inflation RiskThe chance that rising prices erode your buying power over time, making fixed retirement income stretch less each year.
- Full Retirement AgeThe age at which you can collect your complete Social Security benefit without any reduction for claiming early.
- Survivor BenefitA Social Security payment a widow, widower, or dependent can receive based on a deceased worker's earnings record.
Turn this into a brick
Knowing what Cost-of-Living Adjustment (COLA) means is knowledge — the first half. A brick gets placed when you act on it.
More in Retirement
Plain-English education — not personalized legal, tax, or investment advice.