This is more possible than you might think. Changing careers is a viable option, even for older workers, according to a report from the American Institute for Economic Research (AIER), a nonprofit organization dedicated to economic literacy.
"It's very likely the COLA will be zero, given the way the numbers are now," said Polina Vlasenko, senior research fellow at the American Institute for Economic Research.
"A higher interest rate normally puts constraints on borrowing. But the first interest rate rise could be seen as a signal of even higher rates in the future. Hence, consumers and businesses may borrow sooner than later, boosting borrowing in the short term," Jai Liu, a research fellow at the American Institute for Economic Research, said in a statement Thursday.