I Don't Know What the 2027 Social Security COLA Will Be, but I Am Pretty Sure About This
Seniors should be pretty happy about this.
Overview
We won't know the 2027 Social Security cost-of-living adjustment (COLA) for a few more weeks, but I'm pretty certain it'll be much higher than the 2.8% boost seniors saw this year. The thought of extra money is encouraging, especially for those struggling to get by on their existing benefits. But it's important to keep things in perspective.
Social Security COLAs are designed to help your benefits keep up with inflation, not to increase your standard of living. And even an above-average COLA might not go as far as you think next year.
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Originally published at www.fool.com.
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