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A Peek into the future of Social Security payments

Mike Obel states that by looking at historical data on annual hikes in Social Security payments, the average monthly payment for retirees by 2030 is expected to have climbed to $2,112, according to an analysis by Better Benefits Guide.  Obel explains the gauge used to calculate benefit increases since 1975 — the Consumer Price Index for all Urban Consumers, or CPI-U. He acknowledges that, while benefit hikes have exceeded the CPI-U overall since 2001, they are still not likely to match increasing retiree expenses given health care costs and other items that seniors buy. Full article here.

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