GO in the Know: Social Security COLA Increases 8.7%, Gen Z’s Retirement Savings & Top Financial News for Oct. 13, 2022

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Happy Wednesday — and National M&M Day! Fun fact: M&M’S introduced Purple, their first new spokescandy in a decade, this year. Catch up on today’s top financial stories while you’re enjoying a candy break.

Social Security: 2023 COLA To Rise 8.7% for Its Biggest Gain in Four Decades

The Social Security Administration on Thursday announced its biggest annual cost-of-living adjustment (COLA) in more than four decades, with Social Security recipients set to get an 8.7% boost to their 2023 monthly payments. Read the full story here

Business Spotlight: Uber, Lyft & DoorDash

The Biden-Harris administration has proposed a rule challenging existing worker classifications that could change the nature of the gig economy in the U.S. by redefining guidelines to fit current labor standards. Read the full story here

That’s Awesome: Gen Z Is Getting Started as Young as 19 With Their Retirement Savings

Many Gen Zers are starting to save for retirement as teenagers — much sooner than earlier generations, according to a new report from the Transamerica Center for Retirement Studies. Read the full story here

Make Your Money Work for You

Bonus: 8 Ways To Save on Your Next Trip to the Movies

You don’t have to call cut on going to the movies. Here are some ways to catch all the action without spending blockbusting prices. Read the full story here

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About the Author

Heather Taylor is a senior finance writer for GOBankingRates. She is also the head writer and brand mascot enthusiast for PopIcon, Advertising Week’s blog dedicated to brand mascots. She has been published on HelloGiggles, Business Insider, The Story Exchange, Brit + Co, Thrive Global, and more media outlets. 

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