Upcoming August Social Security payments to come with increase – Boost in retiree checks

Upcoming August Social Security payments

Millions of Americans rely on Social Security benefits to cover essential expenses, manage inflation, and make ends meet. This month, over 71 million beneficiaries will receive their payments, including a 3.2% increase due to the Cost of Living Adjustment (COLA). COLA adjustments are based on inflation and are announced annually in October, with changes applied … Read more

Reduction of Social Security benefits to these retirees – They will receive less money

Social Security benefits to these retirees

As of 2024, the Social Security Administration (SSA) projects that 68 million Americans will receive monthly Social Security benefits. For many retirees, these payments are a crucial source of income. The average monthly payment for retired workers is estimated at $1,907, including the cost-of-living adjustment (COLA) for the year. However, various factors can cause these … Read more