Why Next Year’s Social Security Increase Matters – And Why It Is Not | Personal finance

It also raises questions about the future: Is this inflationary environment transient, as President Biden says, or is this our new normal? Only time will tell. But some interesting signals, such as prolonged supply chain disruptions and continued wage increases, may indicate higher prices are here to stay.

Increase matters, but know what it means

The upcoming increase in social security benefits is good news for recipients; their respective standards of living will not decrease in 2022. But this is not only a cause for celebration: real concerns are at play in the economy at large, as well as on the balance sheet of SSA. It is best to view the COLA as a respite from the unwanted effects of inflation, but it must also be recognized as a necessary tool that the SSA has deployed to operate in a difficult economic environment.

The $ 16,728 Social Security bonus that most retirees completely ignore

If you’re like most Americans, you’re a few years (or more) behind on your retirement savings. But a handful of little-known “social security secrets” could help boost your retirement income. For example: One simple trick could earn you up to $ 16,728 more … every year! Once you learn how to maximize your Social Security benefits, we believe you can retire with confidence with the peace of mind we all seek. Just click here to find out how to learn more about these strategies.

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