2023 Social Security Cost-Of-Living Increase Highest In 40 Years
Submitted by Desmond Wealth Management, Inc. on October 30th, 2022The Social Security Administration recently announced that Social Security beneficiaries will get an 8.7% increase in their benefits in 2023. Thanks to the current high inflation, this is the highest increase in 40 years and the second year in a row that there’s been a substantial increase, 5.9% in 2022 and now 8.7% for 2023.