Social Security just announced an 8.7% cost of living adjustment for retirees! The COLA increase will be applied to benefits in January of 2023. That's the largest inflation adjustment since 1981, when it was 11.2%. Peter with Richon Planning explains to Erin Kennedy why this year's Cost of Living Adjustment, or #COLA, is so high and whether this change should affect your claiming strategy.

If you'd like to speak with Peter to determine when you should claim Social Security, Richon Planning actually specializes in running very personalized analyses to determine your most "financially optimal" strategy. Please feel free to reach out for a complimentary consultation by calling (919) 300-5886 or by visiting www.RichonPlanning.com

#SocialSecurity #Retirement #WealthManagement #SocialSecurity2023