Social Security payments are adjusted each year to account for cost of living increases. And with inflation surging during the economic recovery from the COVID-19 pandemic, the next adjustment will likely represent the largest increase in Social Security payments (6.2%) in the last 40 years.
So what does this mean for the average recipient of Social Security income? About an extra $100 a month. This Barron’s article explains everything you need to know about the upcoming increase in Social Security income.
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