Finally! A Real COLA Boost

For those on Social Security, the last few years have been an absolute drag.

Higher costs have not translated into higher income. But, seniors and retirees may finally have a reason to cheer heading into next year. That’s because if various trends persist, they may finally be getting a bit of a raise when it comes to their Social Security checks. Thanks to a growing economy and higher inflation, cost of living adjustments (COLAs) are hitting their highest point in years.

For retirees, the increase in monthly benefits should come as a welcome sign and help defray the costs of higher inflation.