Social Security on October 13, 2021 has made known what the increase will be for 2022. 70 million Americans on Social Security and Supplement Security Income will see an increase of 5.9%. This is great news as we continue to see prices of everyday items rising.
The 5.9% cost of living adjustment (COLA) will begin in January of 2022 for people on Social Security. This is the biggest increase for Social Security since 1982. Even though this is great news, this also means to expect prices of normal day items to continue to go up. So please be diligent with your budgets. If you want to read the full article from Social Security click HERE.
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