There was good news and bad news in the release from the Social Security Administration. Recipients of Social Security will see a 5.9% boost in their payments starting next January. On average, this will mean a $92 boost to $1,657/month, although payments can vary widely based on your lifetime earnings. That’s the largest increase since 1982. The bad news : inflation, which is what is driving the cost of living increase, is rising sharply.
https://www.wsj.com/articles/social-security-cola-increase-2022-11634067648?mod=djem10point
