Social Security recipients have something to look forward to. Retirees and other beneficiaries are about to get their biggest benefits increase in years. The Social Security Administration will announce the 2023 cost-of-living-adjustment (COLA) sometime this fall, and after a year of sky-high inflation, it's likely to be the biggest since the early '80s. That's because Social Security benefits are adjusted each year based on a subset of the Consumer Price Index, which has been up more than 8% year over year in recent months.
If you're looking to take advantage of the Social Security COLA windfall, one of the best ways to do so is by investing that money into quality dividend stocks. If you're a retiree who loves getting quarterly dividend checks, keep reading to see two great income stocks that are on sale today. Sure, Target (NYSE: TGT) has been bruised and battered in the recent retail malaise. It's worth remembering that the stock is still up about 200% over the past five years, displaying a track record of outperformance. Compared with its big-bank peers, JPMorgan Chase's (NYSE: JPM) record is nearly spotless. The nation's No. 1 bank by assets didn't need a bailout during the financial crisis, as many of its peers did, and it's mostly avoided the kind of scandals that have plagued rivals Wells Fargo and Citibank.
Source: NASDAQ
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