Pay Raise VS Cost of Living Adjustment: What's the Difference

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Many times people are confused between pay raises and cost of living adjustments (COLA). Short answer? Pay raises occur prior to retirement, while you're still working. COLA is typically a post-retirement consideration, although that's not always true.
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Thank you for educating and sharing this information!

justinedaniellegal
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I'm a twenty-three-year postal employee who just discovered your Channel a few days ago. I've been catching up on some of the older videos. I'm looking forward to Friday night live.

Mymindsgoingblanknow
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Seniors, vets, homeless, disabled all need that pay raise I can't live on $1068.00 a month. My rent with section 8 is $400 a month that leaves $668 for the month. Then there is electricity
$80.00, $75.00 for cable $513.00 My son gets $300.00 amonth Im left with $213 for food and my shopping for the month .

garystorm