Older Americans scraping by on meager increases in their Social Security checks the past decade will reap a relative windfall next year. For the average retiree who got a monthly check of $1,565 this year, the bump means an additional $92 a month in 2022. usatoday.com/story/money/20…
The roughly 70 million people – retirees, disabled people and others – who rely on Social Security will receive a 5.9% cost-of-living adjustment (COLA) next year, the Social Security Administration said Wednesday. That's the biggest bump since 1982.
@USATODAY Only because inflation is the highest it’s been in decades .
@USATODAY Be aware people, Social Security Retirement, Social Security Disability and SSI are living in a very scary place financially. One high co payment, one repair bill on their car and they can never dig their way back out. Save big for retirement or you will be doing the same.
@USATODAY $92 dollars extra a month is NOT a windfall. It’s a ridiculously paltry sum, not nearly enough. I’m sure it will be greatly appreciated by elderly people on fixed incomes, but c’mon America, we can and should do better.
@USATODAY Some of that will actually be wiped out due to increases in the cost of medicare part B and the deductibles.
@USATODAY Don't forget to mention Medicare will more than likely take majority of that increase. So it's not as big as you like to keep saying it is. Your post should say cola increase of 5.9 % but Medicare is going to take this % out of it.