Smart Ways to Spend Your Social Security COLA
Retirees, if you haven’t already heard the good news, you’ll be getting more from Social Security next year. Beneficiaries will receive a 1.7% cost-of-living adjustment in 2015, boosting the average monthly benefit for a retired worker from $1,306 to $1,328.
That $22 extra each month will add up to $264 over a year. It’s not a windfall, but the extra cash certainly will come in handy. In addition to covering everyday expenses, here are 12 ways retirees can best use their Social Security COLA increase.
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