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Whoo-hooo-hoo! I LOVE GOOD NEWS!!  ❤️

From MoneyTalksNews:

"Get ready for another big bump in Social Security payments, at least if one prediction pans out.

Recipients can expect their 2023 Social Security benefit to grow by 9.6% after an adjustment for inflation, according to new projections by the Senior Citizens League.

If the prediction proves true, it would mark the highest cost of living adjustment — or COLA — for Social Security since 1981."

Last edited by Will S.
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More money is always good news! However, you should contact your congressman about the payout. An increase based upon a percentage means the people getting the most money will get more money than those on the lower end of the scale.  (Example: $10.00 x 10% = $1.00; $5.00 x 10%=0.50) In short, the people who need the increase the most will get the least amount of money! An "across the board" increase, like the stimulus checks, or a sliding scale approach with lower income to receive a larger percent would be a lot more equitable. As it stands now, the people at the top end will get twice as much as the people at the lower end.

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