Senior citizens will see an increase in their social security benefits in 2024.
The Social Security Administration announced earlier this fall that recipients will receive an annual cost-of-living adjustment of 3.2% beginning this month.
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That comes out to an average of more than $50 per month.
This is the third year in a row for a bump in payments as a result of inflation.
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However it is a much smaller increase compared to the past two years.