Social Security Benefits are Set to Increase in 2024
On the other hand, when you’re over 65 years old, you pay Medicare Part B premiums. We can expect a 6% increase in Medicare premiums. This doesn’t exactly equate dollar to dollar. Obviously, your Social Security payment is much larger than your medicare payment. For example, the base Medicare payment this year was $164 a month, and next year it will increase to $174 a month.
When you go through our financial planning process, Social Security Benefits and Medicare are things taken into account. We make assumptions considering that the increase in healthcare cost is larger than the increase in cost of living each year.
Have more questions? Contact Us
Casey Smith
President, Wiser Wealth Management
Click here to schedule a consultation with one of our financial planners.
Listen to Our Podcast:
Recent posts
Share This Story, Choose Your Platform!
Wiser Wealth Management, Inc (“Wiser Wealth”) is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). As a registered investment adviser, Wiser Wealth and its employees are subject to various rules, filings, and requirements. You can visit the SEC’s website here to obtain further information on our firm or investment adviser’s registration.
Wiser Wealth’s website provides general information regarding our business along with access to additional investment related information, various financial calculators, and external / third party links. Material presented on this website is believed to be from reliable sources and is meant for informational purposes only. Wiser Wealth does not endorse or accept responsibility for the content of any third-party website and is not affiliated with any third-party website or social media page. Wiser Wealth does not expressly or implicitly adopt or endorse any of the expressions, opinions or content posted by third party websites or on social media pages. While Wiser Wealth uses reasonable efforts to obtain information from sources it believes to be reliable, we make no representation that the information or opinions contained in our publications are accurate, reliable, or complete.
To the extent that you utilize any financial calculators or links in our website, you acknowledge and understand that the information provided to you should not be construed as personal investment advice from Wiser Wealth or any of its investment professionals. Advice provided by Wiser Wealth is given only within the context of our contractual agreement with the client. Wiser Wealth does not offer legal, accounting or tax advice. Consult your own attorney, accountant, and other professionals for these services.
