Will 2023 Be the Best Year for Social Security Ever?
After a difficult year in 2022, in January, Social Security benefits jumped by the highest percentage in roughly four decades. The average Social Security benefit this year is expected to rise by 8.7% to more than $1,700.
Meanwhile, based on the government's reports, inflation has started to cool since the summer, and retirees could see some of their expenses fall as well. With so much trending positively this year, are retirees headed for the best year of Social Security ever in 2023? Let's take a look.
Not only are Social Security benefits rising significantly this year thanks to the unusually large cost-of-living adjustment (COLA), but checks will also feel bigger in other ways because several Medicare premiums are shrinking.
Source Fool.com
