2024 Social Security Changes: What Retirees Need to Know
TL;DR Summary
Social Security recipients are set to receive a 3.2% increase in their benefits checks starting in 2024, thanks to a cost-of-living adjustment. The additional money will be included in the first payment for the 2024 benefits year, with SSI beneficiaries seeing the increase in their December 2023 payment and retirement benefit recipients receiving it in their first January payment. Social Security will be sending out notifications about the upcoming increase, but recipients can also check their new benefit amount online. It's important to budget and use the additional money wisely to cover rising prices and necessities.
Topics:business#benefits-increase#budgeting#cost-of-living-adjustment#personal-finance#retirement#social-security
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