10/20/2023
The Social Security Administration announced that seniors and other beneficiaries will receive a 3.2% increase in benefit checks in 2024. This cost-of-living adjustment (COLA) is one of the largest increases over the past few decades, but significantly less than 2023, which was an 8.7% increase. If you have questions about inflation and its impact on your finances, let’s connect.
With Social Security's annual cost-of-living adjustment less than half of the 2023 boost, seniors are at risk of losing ground, experts say.