Tag: cost of living
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FINAL: 2023 Social Security Pay Raise
Over the past few months, there has been much discussion on the estimated Cost-of-Living Allowance (COLA) for 2023. We’ve had various estimates ourselves, but without the final CPI-W numbers, it was largely speculation, especially early in the year. The Verdict The final COLA, effective Jan 1, 2023, will be 8.7%. This figure applies to Social
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Social Security pay raise 2023
Yet again, the inflation numbers have been released they are worse than expected. This has been a continuing trend in the past few months. While this is harming purchasing power for nearly all Americans, it is also causing a secondary effect: an increasing federal budget. That’s right, let’s take a look at the 2023 COLA projection.
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Why a 6.2% COLA is not good news for the average person
I’ve seen a ton of articles lately on the projected 6.2% Cost of Living Adjustment (COLA) that will be afforded to many local, state, federal, railroad, and military pension (including VA benefits) recipients, and Social Security beneficiaries. Let’s talk about why this may not be a good thing like many people believe.