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Social Security beneficiaries can expect their monthly payouts to increase in January

For 62 percent of current retirees, their Social Security benefit accounts for a least half their monthly income according to the Social Security Administration.  Also, based on the analysis from the Center on Budget and Policy Priorities more than 15 million retired workers are pulled out of poverty every month as a result of Social Security. With the release of the 2021 cost-of-living adjustment (COLA), Social Security beneficiaries can expect a 1.3 percent increase in their monthly benefit.  In Sean Williams’ article for the Motley Fool, he writes what the average Social Security benefit will be in 2021.  Read Mr. Williams’ article here…

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