Ready for the Big Social Security Hike? Here's When You'll See Those Checks
Social Security benefits are getting a little bigger for the millions of people who receive them. That's because the Social Security Administration recently announced benefits recipients are entitled to a 5.9% cost of living adjustment (COLA) in 2022.
COLAs happen in most years to ensure those who get benefits don't lose buying power as prices go up. But while the Social Security raise has been announced already, you won't see extra money just yet.
The type of Social Security benefits you get will determine when you can expect to start receiving your bigger checks.
Source Fool.com
