Social Security checks expected to increase

• October 13, 2017
• realestatelife
• Announcements, Business & Markets, Real Estate, Real Estate Finance

Seniors who collect Social Security are slated to receive a 2% increase in their monthly checks in 2018, marking the biggest gain in six years.

The cost-of-living adjustment is the largest since a 3.6% increase in 2012. Might not sound like much, but it’s a lot more than the nation’s 42 million retirees got in 2016 or 2015.

Seniors only got a 0.3% increase this year and none in 2015.

This year, the average beneficiary receives about $1,360 a month. A 2% increase in 2018 would amount to about $27.40 a month. Or an extra $326 for the full year.