Readers of our publication will know about the upcoming Cost-of-Living Adjustment in 2027. The COLA is set to be 3.6 percent, which will equate to an extra $75 per month for the average retiree.
However, there may be a problem.
In many areas, inflation continues to run rampant. Some people have seen multiple bills go up by $75 or more in recent years. Does this mean the Social Security “increase” is wiped out before it even goes into effect?
Even for those who don’t need the COLA to survive, they deserve the money they’ve paid in. Higher inflation means your extra money for savings, investing, or other ends, won’t go as far.
Do you think this COLA will make a difference? Share your thoughts with us. Don’t forget to bookmark our page for more news about updates to the program in the coming year.
