This is a potentially bittersweet moment for Social Security's nearly 66 million beneficiaries. On one hand, they're just a couple of weeks away from receiving the largest cost-of-living adjustment (COLA) on a percentage basis in 41 years. For the program's more than 48 million retired workers, the average monthly Social Security check is expected to climb by $146 in 2023.

Medicare Part B premiums are also declining year over year. As a result of these changes, many retirees are looking at a real-money increase in their take-home benefit for the new year.

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Source Fool.com