Social Security Benefits Have Lost 14% of Their Buying Power Since 2016. Will the 2027 COLA Reverse That Trend?
There's good news and bad news.
Overview
If you used to manage all right with just your Social Security checks and personal savings and now find yourself struggling, it's not all in your head. Social Security checks actually don't go as far as they used to. Recent research from The Senior Citizens League (TSCL) reveals that they buy 14% less today than they did 10 years ago.
Many hope that the 2027 Social Security cost-of-living adjustment (COLA) might turn things around, but we don't know yet. But it might not change as much as you expect.
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Originally published at www.fool.com.
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