Thinker101
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- Mar 25, 2017
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Expectations for next year’s Social Security cost-of-living-adjustment have changed once again as inflation continues to cool, this time inching a little higher to 3% based on June data.
If the 2024 COLA does come out to 3% in October, the average monthly benefit of $1,787 would increase by about $53.60.
Hell, that may cover half a tank of gas per month. But don't get too excited just yet, an increase in Medicare premiums may negate most of that COLA increase.
Social Security Checks Are on Track to Rise 3% Next Year
If the 2024 COLA does come out to 3% in October, the average monthly benefit of $1,787 would increase by about $53.60.
Hell, that may cover half a tank of gas per month. But don't get too excited just yet, an increase in Medicare premiums may negate most of that COLA increase.
Social Security Checks Are on Track to Rise 3% Next Year