Hi Larry I will be 62 on January 12th 2023 am I eligible to receive the cola benefit for social security

Hi. No, assuming that you're referring to Social Security retirement benefits. Only people born prior to January 2 1961 will have the January 2023 Social Security cost of living (COLA) increase added to their Social Security retirement benefit rate, and they'll receive the credit regardless of when they start drawing benefits.

All Social Security cost of living (COLA) increases that occur after a person turns age 62 are added to their Social Security retirement benefit rate regardless of when they apply for benefits. Up until a person turns age 62, their Social Security retirement benefit rate is adjusted to keep pace with increases in the national average wage index.

Your best option for when to claim benefits depends on many different factors, so you should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze all of your options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry