COLA increase in 2024

The maximum benefit for a retired worker who claims their Social Security benefits at full retirement age will increase from $3,627 per month in 2023 to $3,822 per month in 2024.

Moreover, according to the SSA, the average benefit from all retired workers will increase from $1,848 in 2023 to $1,907 in 2024. It’s not that long until you get your note about the COLA increase in 2024 in your mail, so be patient and hope that 2024 is going to be a better year in terms of finances.

What do you think about the COLA increase in 2024? Inflation was and still is a big challenge for plenty of us, and we’re curious to know what you think. If you want to share your thoughts with us, feel free to do it in the comment section below!

Until next time, if you want to read something else from Easy Seniors Club, here’s an amazing post for you to check out: 10 Worst States to Retire In if You Want to Save Money on Taxes