Social Security Benefits to Increase 5.9%

Social Security benefits will increase 5.9% for approximately 70 million Americans in 2022. This is the largest one-year increase in the last four decades. Over the last 10 years, Social Security benefits increased by an average of 1.7%. The cost-of-living increase is tied to a measure of inflation that has risen substantially as the U.S. economy emerges from the pandemic.

At Brandywine Oak, we believe it’s essential for us to educate our clients on the policy changes that affect their finances. To learn more about Social Security’s changes, please read the Washington Post’s https://lnkd.in/d3jxGvs6.

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