How Much Will Your Social Security Checks Increase in 2024?
The Social Security Administration just announced a 3.2% cost-of-living adjustment (COLA) for 2024. That's a lot less than the 8.7% increase seniors saw last year, but it will still give your checks a small boost. However, calculating your 2024 benefit isn't as simple as adding an extra 3.2%.
Below, we'll look at how the government calculates your checks and how it applies COLAs to your benefit.
Image source: Getty Images.
Source Fool.com
