You will be asked to register or log in. In the next 24 hours, you will receive an email to confirm your subscription to receive emails related to AARP volunteering.
Once you confirm that subscription, you will regularly receive communications related to AARP volunteering. In the meantime, please feel free to search for ways to make a difference in your community at www. Javascript must be enabled to use this site. Please enable Javascript in your browser and try again. Now Reading:. Membership My Account. Rewards for Good. The Social Security Administration announced the 5. But the economic recovery from the coronavirus pandemic has triggered rising prices for a wide range of goods and services, and that will translate to bigger checks for retirees.
At one time Congress had to approve inflation increases, but starting in the mids lawmakers turned that function over to nonpartisan experts within the government bureaucracy. The annual review is now tied to changes in an official measure of inflation and proceeds automatically and with no political brinkmanship.
But one has to go back nearly 40 years to find a bigger COLA boost, the 7. As the economy recovers from the shock of coronavirus shutdowns, prices are rising at a pretty good clip. There's tons of advice about how big your nest egg should be for retirement but focusing too much on a single figure can lead to complacency. October 26, Financial Planning. October 29, Scammers Have Retirees in Their Sights. Older adults tend to lose the most money to scams because criminals target them with costly schemes.
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