The largest cost-of-living adjustment in 40 years - Investment News

On October 13th, the Social Security Administration announced the largest cost-of-living adjustment (COLA) in 40 years. The 5.9 percent will be applied to benefits starting January 2022, even if you have not yet filed for your Social Security benefits; anyone who is 62 or older and eligible to receive the Social Security will benefit from this COLA increase. So, what does that mean to the average Social Security recipient? Does this mean higher taxes? Or higher Medicare Part B premiums? Mary Beth Franklin explains what this COLA increase means, what to expect going forward, and how it will affect those still working. Read Ms. Franklin’s column here…


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