Social Security checks to rise 9% in 2023

Some good news for retirees who get social security—there will be about $150 extra in each month's check next year.

CNN— Some good news for retirees who get social security—there will be about $150 extra in each month’s check next year.

It’s the annual cost of living adjustment— an 8.7%  boost in light of rampant inflation and the largest increase since 1981.

For the 70 million people who depend on social security—that means monthly payments will go up around $146.

Whether the adjustment will be enough to keep up with inflation remains to be seen, that’ll depend on what happens between now and the end of the year.