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How Much will the Average Social Security Benefit Will Increase?
With a Social Security cost of living announcement on the horizon, many seniors are asking how much more they might get starting in January 2025? Maurie Backman says $48. That equates to 2.5%, the estimated COLA, on the average social security benefit of $1,920 per month. That percentage reflects cooling inflation. Those with lower benefits will get less, and those with higher benefits will get a larger COLA. Medicare Part B premiums are also expected to increase, and that will negate some of any COLA. Full piece here.