Social Security recipients will have more money to spend in 2023

Recipients of Social Security may see their monthly checks increase up to 8.7 percent as part of their cost-of-living-adjustment (COLA), according to Mary Johnson, a policy analyst for the Senior Citizen League. The average retiree got a monthly check of $1,656 this year. That would go up to $1,800 if Ms. Johnson’s estimates are correct.