First Increased 2024 Social Security Checks Going Out Soon

Published on January 5, 2024

Social Security checks with the latest cost-of-living adjustments (COLA) will start arriving next Wednesday for some retirees, according to the agency’s payment schedule for 2024. For payments sent out this year, more than 71 million Social Security recipients will get a 3.2 increase, marking the third straight year that an increase has taken place due to relatively high inflation. The previous year saw a 8.7 percent increase, while the year before that saw a 5.7 percent bump. How much a retiree receives depends on multiple factors, including the age they retire. The most a person who retires at age 70 can get in 2024 is $4,873, according to the Social Security Administration. If one retires at 62, the maximum benefit will be $2,710, the SSA says....

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