Looks like the annual cost of living adjustment is gonna be 5.9%. This is a $92 and change increase each month for me and puts my annual income within striking distance of $20K. Medicare Part B is only projected to go up about $10 a month so the average retiree should be seeing around $80 a month added to their check. I don't believe this accurately reflects the inflation that has been going on but it's better than nothing and should be having a lot of people breathing a huge sigh of relief. It amounts to an extra $1104 for the year for me personally which not an insignificant amount of money.
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Social Security COLA announced

1 of 3
3 years ago
Thu Oct 14, 2021 5:57 am
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Saeren
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Level0 Last INQFriday, August 23, 2024 Gardening For24 days, 13 hours, and 17 minutes Next Level in6 days, 10 hours, and 43 minutes on September 23rd INQ 1yr onSaturday, August 23, 2025 INQ 1yr in11 months, 6 days, 10 hours, and 43 minutes INQ 2yr onSunday, August 23, 2026 INQ 2yr in1 year, 11 months, 6 days, 10 hours, and 43 minutes Goal6 months Goal DateSunday, February 23, 2025 Goal In5 months, 6 days, 10 hours, and 43 minutes
Looks like the annual cost of living adjustment is gonna be 5.9%. This is a $92 and change increase each month for me and puts my annual income within striking distance of $20K.

Medicare Part B is only projected to go up about $10 a month so the average retiree should be seeing around $80 a month added to their check.

I don't believe this accurately reflects the inflation that has been going on but it's better than nothing and should be having a lot of people breathing a huge sigh of relief. It amounts to an extra $1104 for the year for me personally which not an insignificant amount of money.
Saeren
User avatar
Rebel Administrator
  • Score data TU8 799/EX8 786/EQ8 805
    EQ5 770/EX2 757
    8/18/2023
3
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Re: Social Security COLA announced

2 of 3
3 years ago
Thu Oct 14, 2021 12:20 pm
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Birdman
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Birdman has been gardening for over 2 years.
Level30 Last INQWednesday, March 2, 2022 Gardening For2 years, 6 months, 14 days, 13 hours, and 17 minutes Next Level in15 days, 10 hours, and 43 minutes on October 2nd INQ 1yr onThursday, March 2, 2023 INQ 1yr reached1 year, 6 months, 14 days, 13 hours, and 17 minutes ago INQ 2yr onSaturday, March 2, 2024 INQ 2yr reached6 months, 14 days, 13 hours, and 17 minutes ago
That’s great, although it should be higher like you said. When does it go in effect?
Birdman
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  • Score data EQ8-827; TU8-817; EX8-816
    EQ5-751; TI4- 800; EX2-814
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Re: Social Security COLA announced

3 of 3
3 years ago
Thu Oct 14, 2021 2:42 pm
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Saeren
Rebel Administrator
Recent HP or new account.
Level0 Last INQFriday, August 23, 2024 Gardening For24 days, 13 hours, and 17 minutes Next Level in6 days, 10 hours, and 43 minutes on September 23rd INQ 1yr onSaturday, August 23, 2025 INQ 1yr in11 months, 6 days, 10 hours, and 43 minutes INQ 2yr onSunday, August 23, 2026 INQ 2yr in1 year, 11 months, 6 days, 10 hours, and 43 minutes Goal6 months Goal DateSunday, February 23, 2025 Goal In5 months, 6 days, 10 hours, and 43 minutes
COLAs go in effect in December and show up on the check in January (Social Security is paid in arrears).
Saeren
User avatar
Rebel Administrator
  • Score data TU8 799/EX8 786/EQ8 805
    EQ5 770/EX2 757
    8/18/2023
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