Reported 2 days ago
Social Security beneficiaries should prepare for the COLA (cost-of-living adjustment) announcement scheduled for October 10, 2024, which is anticipated to be around 2.5%. This increase aims to help offset rising living costs, with the average monthly benefit projected to rise from $1,907 to approximately $1,957. Although this adjustment offers some financial relief, experts suggest that retirees explore additional strategies to manage their finances, such as optimizing dividend stocks, re-evaluating fixed income investments, or considering cash alternatives to maintain their purchasing power.
Source: YAHOO