Canadian researchers find a simple cure for cancer, but major pharmaceutical companies are not interested. Researchers at the University of Alberta, in Edmonton, Canada have cured cancer last week, yet there is a little ripple in the news or in TV.
Social Security recipients will get a 1.7% cost-of-living raise starting in January, the Social Security Administration announced Wednesday. For the average retired person receiving Social Security, monthly payments would rise $22 to $1,328 from $1,306. The average couple's benefits would rise to $2,176 from $2,140. Average annual payout: $15,936.
Social Security is the main source of income for a majority of retired Americans -â not pensions or retirement savings -â which is one reason so many seniors lack money. The average Social Security payment for a retired worker at the start of 2012 was only $1,230 a month -- or $14,760 a year. Another study published last year also revealed grim results, predicting that the average baby boomer would fall far short on their necessary retirement income-- about 44 percent short.