Apex News

The Social Security cost-of-living adjustment (COLA) for 2022 will be 5.9% as reported by CNBC. This is the highest annual increase in about 40 years! 

Is This a Good Thing?

We have clearly experienced inflation as a direct result of continued stimulus efforts over the past decade, however, this is the first time we've seen the lagging and outdated process of calculating COLA spit out a sizeable number. 

We think this type of adjustment is long overdue and will help retirees keep up with the rising costs of gas, utilities, rent, food, and health care.

What Does This Mean for Me?

Everyone has unique circumstances. For some, this will be a windfall to boost a fixed income. For others, the increased cost of Medicare benefits may absorb this bump.

Our commitment to our clients is to seek ways to influence your wallet positively, achieve maximum tax efficiency so that you can live your best life. If you have any questions about incorporating these techniques into your family's financial plan, don't hesitate to contact our team today. Your financial success is our number one priority.