How will your Social Security COLA change in 2024?

Mindy D · ‎05-23-2010

For updated information about projections for COLA in 2024, see this article in USA Today. The article is highly informative and goes beyond just discussing the COLA for SS.
I'm posting because there's another thread that contains conflated information about 2023 and 2024 and I think some might want updated information.

Put this title into your google search

How will your Social Security COLA change in 2024? Think smaller.

The article is in

USA TODAY and is by Medora Lee

Snowpuppy · ‎03-09-2010

If we hit the debt ceiling, and appears we are on track for June 1 you'll have much bigger concerns than a few more $ in 2024.

Mz iMac · ‎07-26-2014

The 2023 amount was the largest I believe in 40 yrs. Everyone should know it's downhill from 2024 & beyond.

Anything is better than nothing!

"Never argue with a fool. Onlookers may not be able to tell the difference."

Tinkrbl44 · ‎08-23-2010

@Mindy D wrote:
For updated information about projections for COLA in 2024, see this article in USA Today. The article is highly informative and goes beyond just discussing the COLA for SS.
I'm posting because there's another thread that contains conflated information about 2023 and 2024 and I think some might want updated information.

Put this title into your google search
How will your Social Security COLA change in 2024? Think smaller.

The article is in
USA TODAY and is by Medora Lee

@Mindy D

Thanks for starting a new thread. I thought about it earlier, but was running out the door and didn't have the time.

chrystaltree · ‎05-10-2010

It's likely there won't be a 2024 COLA. If there is, it will be miniscule.

Linmo · ‎12-16-2013

@Snowpuppy ITA. Nothing will be lost, but recipients of social security and other payments could be in for a rough ride.

hckynutjohn · ‎06-15-2015

(thread title)

I can speculate and guess with the best. How will my SS COLA change me/my family and how we live? ZERO!

More important things in my life than what some so-called, non-middle class economists, figure my COL actually is.

@Mindy D

hckynut 🇺🇸

hckynut(john)

MakeUpMaidn · ‎09-02-2022

Hi@Mindy D

Thank you so much for this Info & Article Title.

Great info!

Mindy D · ‎05-23-2010

@Mz iMac wrote:
The 2023 amount was the largest I believe in 40 yrs. Everyone should know it's downhill from 2024 & beyond.

Anything is better than nothing!

@Mz iMac Yes, but you get to add the new percentage to the amount you received in 2023 which, if the new COLA is about about 3.1%-4% (just a guess for a hypothetical here) means that over the past two year. If there's a 4%, your benefit over two years would increase around 12%. That's no slim pickins.

Wish it would keep up with the price of groceries and food from all sources. When you add foods costs to shrinkflation, consumers are paying so much more for meals than five years ago.