Social Security Increases This Month

By: James Spainhour

Social Security is increasing this month by 5.9% to adjust for the rising cost of living. CNBC reports that, "The average retirement benefit will be about $92 per month higher." Of course this doesn’t mean everyone will get that kind of boost, but it’s still a raise!

By January 26th, everyone should have had their benefits increased, as the payments are based on your birthday, and by the 26th every subsect will have been covered. 

This rise is a bit of a record, and is likely not to be repeated in the coming years. Since cost of living may not see a significant increase in the future, it may be that they see no need to increase payments to adjust for anything.

If you’re feeling like you need more income, then it may be time to speak to a financial professional. Life changes, and sometimes you need to reevaluate your plans. At Wisepath, we create custom plans for our clients, with no cookie cutter approaches. Reach out today to see what you can change in your financial future.

Give us a call: (844) 947-3728

Schedule an appointment right now!

Or complete the contact form below!