Social Security's 2027 COLA Forecast Just Took an Unexpected Turn
Retirees need to pay attention to what the experts are saying.
Overview
Social Security isn't a benefit that retirees only get to collect for a handful of years. For some people, those monthly checks could continue for decades. That's why the program's cost-of-living adjustments, or COLAs, are so important.
The purpose of Social Security COLAs is to adjust benefits each year in line with inflation. If those COLAs didn't exist, many retirees would not have a way to keep up with rising costs, since plenty of Social Security recipients rely on those benefits for most or even all of their senior income.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.