Social Security Announces Checks Will Change Again In October – No need of Cost-of-Living Adjustment in 2024
In 2024, Social Security beneficiaries will see a 3.2% Cost-of-Living Adjustment (COLA), a smaller increase than in previous years due to cooling inflation. This means an average $59 boost in monthly payments for retirees starting in January 2024. While this increase offers some relief, ongoing inflation in essential goods, like groceries and healthcare, may still challenge retirees’ budgets.
