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COLA Watch 2022: Looking at the Potential Bump in Dollars
For the past several weeks, the airwaves have been peppered with projections of the largest Social Security cost-of-living adjustment in about 40 years. Whether you look at that as good news or bad news, the fact remains that a substantial adjustment (expected to be around 6% give or take) will put more dollars in one’s monthly benefit. But rather than just talking about percentages, MarketWatch’s Brett Arends, in a post on barrons.com, puts the anticipated increase in actual dollars for the average monthly benefit. It’s easier to comprehend that way, but don’t forget about the offsetting impact of whatever Medicare premium turns out to be for 2022. Read the Arends post here…