Even though we’ve got plenty of time left in this year, the 2023 cost-of-living adjustment (COLA) is already a point of much discussion.

While things can change quickly with Social Security, the COLA is projected to boost retirement benefits by $159 a month on average.

There are many costs that this boost can cover. This includes gas, clothing, and house supplies. It’s also a decent chunk of the average cost of healthcare, food, and utilities.

Though this boost isn’t as high as many believe it should be, it could make a difference in the lives of many retirees.

What would a high COLA mean for you in 2023? Tell us in the comments then follow us on Facebook and Twitter.