Here's How Much the Average Social Security Benefit Increases This Month
The new year is finally here, and the 2024 Social Security cost-of-living adjustment (COLA) is officially in effect. Some of you may have already received your first new-and-improved check, and if you haven't, you can expect yours within the next couple of weeks. Below, we'll talk about how much benefits are going up and what you can do if your checks don't go far enough.
The 2024 Social Security COLA is 3.2%. That might not sound like much, but it's actually above average. It's expected to boost the average benefit by about $59 per month, from $1,848 in December 2023 to $1,907 in January 2024.
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Source Fool.com