Welcome to retirement! It's time to refocus and start the next phase of your life. Whatever your retirement goals may be, we wish you well — but first, there are a few changes in Social Security that we would like to bring to your attention.
First, the good news: you will receive a bit more money in 2017 than if you had retired in 2016. Thanks to slightly rising inflation over the past two years, there is a cost of living adjustment (COLA) of 0.3% for 2017. That adjusts the average monthly payments across all retired workers from $1,355 to $1,360 beginning in January.