Not all is bad…
Social Security just released their cost-of-living-adjustment (COLA) for 2023. All recipients will receive an 8.7% increase next year. This will be the highest adjustment in 40 years. When you include 5.9% for 2022, that will be an increase of 14.6% in the past 2 years. It’s happening for the wrong reasons (inflation), but it definitely helps.
We’ll take whatever we can get in the good news department these days.
Stay vigilant out there,
Matt Mellier, CFP® & Team HWC
Social Security to Increase 8.7% in 2023
