Social Security

No, your eyes aren’t deceiving you. Your Social Security Cost of Living (COLA) increase for 2024 was the smallest in three years at 3.2%. This is a big difference from 2023’s COLA of 8.7%. At 2024’s increase, the average Social Security recipient will only see, on average, an additional $49 on their monthly check. COLAs are meant to help Social Security and Supplemental Security Income keep pace with inflation.