The news of the 3.2 percent 2024 Cost-of-Living Adjustment (COLA) for Social Security benefits has seniors talking.
Some are planning ahead on how they’ll use their additional money. But for now, we want to know – what do you think of the number? As we’ve reported, this increase will amount to about $50 on average monthly.
Based on inflation trends and economic indicators, individuals can estimate how this number will impact their finances. Planning ahead allows retirees to make informed decisions, adjust their budget if necessary, and explore additional income sources if the COLA adjustment is not sufficient. Being proactive helps ensure financial stability and better prepares individuals for the future.
So what do you think about the COLA? Let us know in the comments!