Social Security's 2024 Increase: Mixed Reactions and Financial Struggles

The Social Security Administration has announced a 3.2% cost-of-living adjustment (COLA) for 2024, the smallest increase in three years, due to cooling inflation rates. The average benefit check will increase by $49, reaching $1,907. The new COLA will take effect in January, with payment dates varying depending on the recipient's circumstances. Supplemental Security Income (SSI) recipients will receive their payments on December 29, 2023, while other recipients will receive their higher payments on January 3, 10, 17, or 24, depending on their birth month. The overall boost should be 3.2% higher than the December check, and recipients can view their new benefit amount on the mySocialSecurity website.