It was a pleasure meeting many of you in person last week at the 2022 Bogleheads Conference. The sessions were all recorded and will eventually be made available on YouTube. I do not know the timing as far as when we should expect that, but I’ll share the link once they come out.
The SSA announced last week that the cost-of-living-adjustment (COLA) will be 8.7% for 2023.
To answer the question I receive every year: for anybody 62 and older, your primary insurance amount gets adjusted by the COLA each year regardless of whether you have filed for your benefit. In other words, a high (or low) COLA in a given year is not really a point in favor of filing earlier or later. (You can find a more thorough explanation for Social Security inflation adjustments here.)
Recommended Reading
- The INDEX Act: The Next ESG Battle Is for Your Vote from Dave Nadig
- What the Money is For from Nick Maggiulli
- What Makes Life Meaningful? Views From 17 Advanced Economies from Pew Research Center
- Cameron Huddleston: Talk to Your Parents About Their Finances (The Long View podcast episode)
- Why This 1992 Personal Finance Book Still Has a Cult Following from Helaine Olen
- I Bond Yields Set to Drop Next Month from Charlie Wells
Thanks for reading!
Hi. I'm Mike Piper, the author of this blog. I'm 
