Most Americans are playing catch up when it comes to retirement savings.
Even if you make a sizable income, putting away money for retirement is challenging. There is always some necessity with which you must deal. So, making sure you receive the most retirement income possible from Social Security is essential.
Fortunately, there are some strategies you can use to get the most out of your Social Security benefits.  While the Social Security Administration doesn’t hand out bonuses, some bonus-like increases can happen.
The Social Security Administration uses a formula based on lifelong income to calculate a recipient’s retirement benefit. Then it applies an annual cost-of-living adjustment (COLA). This is intended to offset the effect of inflation and other factors that diminish the buying power of your monthly Social Security check. For 2022, the COLA was 5.9 percent….