Social Security Benefits Get a 5.9% Raise This Year -- Here's When You Should See That Extra Money
Last year, the Social Security Administration announced that seniors would be getting their largest cost-of-living adjustment, or COLA, in decades. Fueled by rampant inflation, Social Security benefits are in line for a 5.9% boost this year.
That's money many seniors may be counting on before it even arrives. If you're not sure exactly when your raise will take place, here's what you need to know.
The first Social Security payment you'll receive in 2022 should reflect that 5.9% COLA. And the timing of that payment hinges on your date of birth.
Source Fool.com
