I will shed a bit of light on this... First, you NEED to FORGET that 2% annual COLA increase. Last year, it was ZERO. This year it was .3%. That is three tenths of one percent. Pennies! Second, waiting does indeed increase your benefit. Your benefit increases EACH MONTH that you wait. Not each year. Third, COLA increases are NOT factored into your benefit. As far as I know, the calculation of your benefit when you apply does not include any yearly increases. So, what happened to me was that I went into the SS office in November of the year that I applied. I was told by the agent that my benefit would increase by around $20/month for each month that I waited to collect. BUT, if I did NOT sign up then, I would lose the COLA increase for the coming year. So, I applied. I got my check for December of that year at the rate I was told by the agent. Then there was an increase that year. It brought my benefit to the SAME dollar amount that it would have been had I waited to January to collect. That meant that my check for December was "found" money because if I had waited until past the increase, it would not have affected what would have been my benefit. Confusing.
You need to keep in mind that yearly increases are NOT chiseled in stone. Some years, there is an increase. Other years there is none. sometimes there is no increase for several years. You can only count on the hard numbers that you already have.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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