What's the Average Social Security Benefit for Retirees, Survivors, and the Disabled in 2021?
For Social Security's nearly 65 million beneficiaries, October is the most anticipated month of the year. It's when the Social Security Administration announces all the changes for the upcoming year. This includes an increase in the full retirement age, higher taxation for upper-income earners, and a boost in the retirement earnings test exemption amounts.
Among all these changes, none is more important than Social Security's cost-of-living adjustment -- the benefit increase passed along to recipients each year to account for inflation.
Image source: Getty Images.
Source Fool.com