4 Must-Know Facts About Social Security for 2020
Social Security supports tens of millions of Americans, providing essential benefits to help them make ends meet in retirement or if they become disabled. For many of those recipients, Social Security makes up most or all of their income.
One of the biggest advantages of Social Security is that it makes adjustments every year. In particular, four changes are taking effect for Social Security in 2020, and knowing the facts about those changes and what they mean for typical recipients will help you take maximum advantage of the Social Security program.
Annually, Social Security gives those receiving benefits a cost-of-living increase in the size of their monthly checks. The amount varies from year to year based on inflation figures, and the Social Security Administration just said it would boost benefit checks by 1.6% starting at the beginning of 2020.
Source Fool.com
