Early Retirement Blog

The Social Security Administration announced that in 2009, retirees will receive the largest cost of living adjustment in the last 25 years, Social Security checks will be going up by 5.8 percent starting January.  For the average Social Security recipient, receiving a check of $1153 per month, the increase represents a $63 per month increase.

The average couple, both receiving Social Security checks, will see their monthly income rise to $1,876.  The maximum benefit for 2009 will be $2,323 per month.

Seniors have been hard hit this year, with the twin evils of inflation and low interest rates, having taken a big bite out of their retirement income.  The welcome news from the Social Security Administration, coupled with the prospect of lower inflation in 2009, should provide a nice boost for retirees living on a fixed income.

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Retire on Social Security
Early Retirement Planning