My fra is in October 2023. Should I start collecting social security this December to collect the cola increase in January?

Hi. You don't need to start drawing your benefits early in order to get next year's cost of living (COLA) increase. All Social Security cost of living (COLA) increases that occur after a person turns age 62 are added to a their Social Security retirement benefit rate regardless of whether or not they are collecting benefits when the COLA increase occurs.

You may want to 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