I'm Not Counting on Social Security COLAs to Carry Me Through Retirement. Here's What I'm Doing to Combat Inflation Instead.

The final numbers that will determine Social Security's cost-of-living adjustment (or COLA) for 2026 aren't in yet; they're coming in the middle of this month.As it stands right now, however, the Bureau of Labor Statistics' data suggests the increase will be in the ballpark of 2.6%, while The Senior Citizens League's most recent expectation is for a 2.7% increase in Social Security's current monthly payments beginning next year. With the average monthly payment currently standing at $1,976, this COLA would add roughly $50 per month to that figure.Something is better than nothing, to be sure. The fact is, however, neither projected increase is particularly thrilling. Like most prior COLAs, it doesn't seem like this one is going to fully keep up with seniors' actual ever-rising living expenses. The future isn't apt to be any different either.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool