Pen resting by Social Security check

Social Security Checks Are Getting a Major Boost, But Is It Enough?


Written by Angela Roberts

Apr 21, 2022

I love what I do here at U.S. Money Reserve, but I also recognize that a time will come for me to look to that next chapter in my life: retirement. That’s why I work hard to ensure that when that time comes, I can retire as comfortably as possible. But if you’re looking to retire sooner rather than later, it may be important to learn what’s happening with Social Security and what you might be able to do to help protect your wealth in the face of increasing inflation.

We’ve seen the highest inflation increase in nearly 40 years.

Man in grocery aisle looking at receiptsOn April 19, 2022, CNBC reported that “U.S. inflation hit a fresh 40-year high in March, raising 8.5% year-on-year.” While efforts are underway to address the issue, The Wall Street Journal reported on April 18, “The [Federal Reserve] is setting out to do something it has never accomplished before: reduce inflation a lot without significantly raising unemployment.”

But the Federal Reserve is not alone in attempting to fight the effects of inflation. The United States Social Security Administration is also taking steps to help protect America’s retirees.

In response to high inflation, Social Security may be getting a historic bump.

Social security cards stacked over $100 noteSocial Security benefits are adjusted annually. According to Fox Business, this change is “calculated based on the Consumer Price Index for Urban Wage and Clerical Workers, or the CPI-W.” Fox Business then noted that this index rose 9.4% over the past year.

In response, the nonpartisan Senior Citizens League estimates that 2022’s Social Security adjustment could be as high as 8.9%—slightly over the current level of inflation.

This is good news, but I’ve never been one to wait and see when it comes to my personal finances. Instead, I look for additional opportunities for growth and diversification. After all, there’s no telling how high inflation will go or what the effects of the Federal Reserve’s attempts to cool it down may be.

Diversification remains a key strategy for protecting your portfolio.

On April 19, 2022, CNBC released an article titled “Soaring inflation is hitting retirement savings hard. Here’s how best to manage yours.” In the article, they split their recommendations into two groups: younger workers and those already receiving retirement benefits. But in both situations, the recommendation boils down to a single point: Diversify your portfolio.

For younger workers, the article suggests adding funds to retirement accounts or considering alternative assets. For pensioners, the article cites Treasury Inflation-Protected Securities (TIPS), as well as “moving their money out of the bank, where cash savings are being depleted even as interest rates are steadily increased.”

No matter your situation, it may be beneficial to reduce your overall risk exposure by putting a portion of your wealth into alternative assets that historically don’t feel the sting of inflation as harshly as cash or stocks can. Diversifying your portfolio with alternative assets like gold may help protect your retirement, and you can further diversify your portfolio both by holding physical gold and by adding gold to a precious metals IRA.

Retirement is an important time in our lives. And while policy changes take place in an effort to make our retirement more comfortable, it’s ultimately down to us and our decisions to make that happen for ourselves.

To learn more about the benefits of physical gold ownership, CLICK HERE to request a FREE copy of our Gold Information Kit.


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