The 2027 Social Security COLA Will Push the Average Spousal Benefit to a Major Milestone
Many spousal beneficiaries have been waiting years to cross this threshold.
Overview
Social Security beneficiaries got some tough news recently as the 2027 cost-of-living adjustment (COLA) prediction fell from 3.8% in July to 3.6% in August. If the new estimate proves accurate, seniors will see a smaller benefit boost than had been anticipated. But there is a silver lining.
Even a 3.6% COLA would still be above average and well above the 2.8% boost seniors saw this year. It would also be enough to help the average spousal Social Security benefit reach a major milestone it's been inching toward for years.
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.