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3% social security COLA increase projection

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    Kiplinger published an article saying they think Social Security benefits are likely to rise 3% in 2022 for cost of living (COLA), which would be the highest increase in benefits since 2012.

    They think this will happen because the rise in cost for gas and the money printing going on with all the stimulus checks, basically a higher raise to offset inflation.

    Sounds about right to me. Also sounds like what needs to happen.

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    This will certainly be helpful for many seniors, but I'm afraid it won't be nearly enough for seniors living on a fixed income in large metro areas. A 3% increase in a small-medium sized town will certainly go a lot further than a 3% increase in a large city.