Cost Of Living 2024 Social Security Forecast India. An extra $50 a month in 2024 may seem like good news for americans drawing social security, but doug carey, president and owner of wealthtrace, says. The social security administration's cost of living adjustment, or cola, is based on inflation data from the consumer price index.

A single person estimated monthly costs are 349.0$. The social security administration’s cost of living adjustment, or cola, is based on inflation data from the consumer price index.