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The “Average” Social Security Benefit

The Motley Fool’s Christy Bieber, in an article posted on their website, reports on the increase in the average monthly Social Security benefit payment for 2022. While she notes that it has increased by $92 as a result of the 5.9% COLA taking effect January 1, 2022, she addresses “…the stark reality is that it’s still not nearly enough to live on.” Her article also touches on steps one can take to boost the average benefit, as well as the critical need for supplemental resources to support a retirement lifestyle. Read her article here

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