Care for a COLA with Your Social Security? - APEX Financial Group/Mount Vernon Investments

As you might have heard, people are talking about a big bump in Social Security benefits next year.

The Senior Citizens League says payments could rise by as much as 8.6 percent in 2023, compared to an increase of 5.9 percent in 2022. That would mean an average benefit of $1,658 for the 70 million Social Security recipients on January 1.

To arrive at the cost-of-living adjustment (COLA), the Social Security Administration looks at third-quarter prices and compares them to a year prior. According to the Bureau of Labor Statistics, living costs are up about 8 percent.

What does this mean for you? Stay tuned as these numbers become more clear in the coming months.

APEX Financial Group

204 Glenn St SE Ste. 2 | Mount Vernon, IA 52314 | Office: 319-895-1240 | Get Directions

206 1^st ST SW | Mount Vernon, IA 52314

Non-Deposit Investment products are not FDIC insured, not guaranteed and may lose value

Securities offered through Registered Representatives of Cambridge Investment Research, Inc. a Broker/Dealer, Member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and APEX Financial Group/Mount Vernon Investments are not affiliated.

Cambridge’s Form CRS (Customer Relationship Summary)

This communication is strictly intended for individuals residing in the states of AZ, CA, CO, FL, GA, IA, IL, KS, MA, ME, MN, MO, NC, NE, ND, NH, OK, SC, TX, VA and WY. No offers may be made or accepted from any resident outside the specific states referenced.

The information being provided is strictly as a courtesy. When you link to any of these web-sites provided herein, APEX Financial Group/Mount Vernon Investments makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, sites, information and programs made available through this site. Content provided via links to third party sites should not be considered an endorsement of third party content. We make no representation as to the completeness or accuracy of information provided at these websites.

Cambridge does not offer tax advice.

APEX Financial Group/Mount Vernon Investments