3 Social Security Changes Retirees Need to Know About in 2024
Social Security benefits change every year, and it's important to keep track of anything that will affect your financial plan. High inflation triggered major adjustments in 2023, which might have caught some retirees by surprise.
The changes won't be as extreme this year, but there are still some meaningful updates to Social Security that seniors should take into account while setting their 2024 budgets.
The Social Security Administration (SSA) adjusts benefits each year to keep up with the rising cost of living. The SSA bases the adjustment on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is a popular inflation measurement that's tracked by the Bureau of Labor Statistics.
Source Fool.com
