01.10.2022 13:06:00

Here's How Much (or Little) Social Security Benefits Could Rise for Retirees in 2023

Millions of Americans receive a Social Security retirement benefit each month, and nearly nine in 10 retired workers depend on that income to some extent, according to Gallup.Unfortunately, Social Security beneficiaries have fought a losing battle with inflation this year, and that has many seniors looking forward to a big cost-of-living adjustment (COLA) next year.That said, the exact Social Security COLA will not be announced for another two weeks, and it now depends entirely on the September inflation report the U.S. Bureau of Labor Statistics will release on Oct. 13. In the meantime, retirees can use the latest news to estimate how much (or how little) their Social Security payment may increase next year.Continue reading
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