There was good news and bad news in the release from the Social Security Administration.  Recipients of Social Security will see a 5.9% boost in their payments starting next January.  On average, this will mean a $92 boost to $1,657/month, although payments can vary widely based on your lifetime earnings.  That’s the largest increase since 1982.   The bad news : inflation, which is what is driving the cost of living increase, is rising sharply.

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