Dear Angel, It’s 2023, and with the new year comes a new higher cost-of-living adjustment. I can’t say that I am not excited about that. Unfortunately, I heard that there are some scammers out there trying to get their hands on the bit of extra money seniors will be receiving each month. Have you heard […]
What Can I Expect from Social Security in 2022?
Dear Oakley, Happy New Year! I remember reading that the Social Security Cost of Living Adjustment was at a record high for 2022. Are there any other important things I should know about Social Security this year? Thanks for your help! Cole Ahh — Dear Cole, You are correct that in 2022, seniors will experience […]
Are Military Retirees and Disabled Veterans Getting a Raise Next Year?
Dear Oakley, I heard a rumor that military retirees and disabled veterans are getting a hefty raise next year. Is this true? Thanks for your help. Mo Money — Dear Mo, According to the Defense Department, there are around 1.87 million military retirees, with an annual average retirement payment of $30,265. The VA says nearly […]
What is the Social Security Cost of Living Adjustment for 2021?
Dear Oakley, What is the Social Security Cost of Living Adjustment for 2021, and how is COLA calculated? Thanks so much! Maura Monney — Dear Maura, The Social Security Administration announced this week that the cost-of-living adjustment (COLA) for benefits in 2021 will be 1.3%. For the average retirement benefit, that amounts to just a […]
If You Collect Social Security, You’re Getting a “Raise!”
Q1. My husband and I rely on Social Security for about half of our monthly income. I heard that the cost-of-living adjustment announcement by the SSA is happening this week. Do you happen to know how the COLA is determined and how much they are raising it? Q2. Also, on the topic of Social Security, […]