Think a Bigger Social Security COLA in 2027 Is a Lock? Here's the Truth.
Though current estimates suggest next year's raise will be larger, seniors shouldn't bank on that.
Overview
If you've been having a hard time keeping up with your expenses this year, you're in good company. Inflation has surged in the wake of the Middle East conflict. And these days, everything from gas to groceries to clothing seems to be more expensive.
If you're a retiree on Social Security, you may be having an especially hard time keeping up with rising costs based on the cost-of-living adjustment (COLA) you got at the start of the year. Benefits rose 2.8% across the board in January, but inflation has outpaced that increase.
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Originally published at www.fool.com.
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