Social Security Retirees Aren't Getting a Real Raise in 2027, No Matter What the COLA Numbers Say
While many seniors are hoping for a large cost-of-living adjustment (COLA), they won't actually be getting a raise in the traditional sense.
Overview
In 2027, retirees who receive Social Security will get more money in their benefit checks. That's because Social Security cost-of-living adjustments (COLAs) are a part of the program and happen automatically.
The COLA is often called a raise, because that's the term people use when their annual income increases. However, it's important that retirees realize they are not getting a real raise in 2027, and they essentially never will get a real raise from Social Security. Here's why.
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Originally published at www.fool.com.
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