Social security recipients are getting some relief from rising inflation next year with an 8.7% raise to their monthly payments, the Social Security Administration announced Thursday. It’s the largest cost-of-living adjustment since 1981, but if you are an investor looking for stocks whose dividends are growing at an even faster rate than 8.7% per year, Forbes found more than 50 with market capitalizations over $1 billion that fit the bill.
Investors in San Jose-based chipmaker Broadcom
No public company in the U.S. has raised its dividend by nearly as much as Broadcom in the last 10 years, but many have been more generous than Uncle Sam. Including next year’s 8.7% increase, retirees have still only banked a 2.55% annual compounded increase in the last 10 social security cost-of-living adjustments, good for a 28.6% cumulative gain. Imagine your social security COLA wasn’t just 8.7% this year, but every year for the last 10. That means if you were getting $1,000 per month 10 years ago, you’d be getting about $2,300 each month next year, instead of the $1,286 you’ll receive in reality.
You don’t have to be 70 years old to be doing better than that. Big names like Microsoft
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