It's natural to grow reliant on the monthly benefit you receive from Social Security, especially if you're someone without a ton of money in savings. But the amount of money you collect from Social Security can change from one year to the next. And these three factors could influence what your benefits look like in 2024.

Each year, Social Security benefits are subject to a cost-of-living adjustment (COLA). COLAs are based on inflation, and as you may have noticed, living costs have been cooling to some degree.

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Source Fool.com