Why a Bigger 2027 Social Security COLA Might Still Feel Like a Pay Cut for Millions of Retirees
A larger raise won't necessarily mean more buying power.
Overview
If you weren't happy with the 2.8% cost-of-living adjustment (COLA) Social Security benefits received earlier this year, here's a smidge of good news. The 2027 COLA is shaping up to be much larger.
While it's too soon to have an exact number, current estimates put the upcoming COLA in the 3.5% to 3.6% range. For the average monthly Social Security benefit today, that could amount to a boost of about $73 to $75 per month.
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Details
Source
Originally published at www.fool.com.
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