Social Security's 2027 Cost-of-Living Adjustment (COLA) May Be Among the Largest in 25 Years -- but There's a Catch
View original at nasdaq.comSocial Security's 2027 Cost-of-Living Adjustment (COLA) May Be Among the Largest in 25 Years -- but There's a Catch Key Points Social Security's annual COLA reveal in October is arguably the most anticipated announcement of the year for program recipients…
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A larger-than-expected COLA in 2027 won't change the fact that a Social Security dollar simply isn't what it used to be
60% confidenceThe purchasing power of Social Security income declined 36% from the start of the 21st century to February 2023
60% confidenceGas prices in the US have moved up to $3.79/gallon, their highest level since September 2023. The 30% spike over the last month ($2.92/gallon to $3.79/gallon) is the biggest we've seen in the past 30 years.
60% confidenceThe purchasing power of Social Security income dropped 20% from 2010 to 2024
60% confidenceThere's a real possibility of the 2027 COLA being among the largest over the last quarter century
60% confidenceMedicare's Part B premium is rising at a significantly faster pace than Social Security's annual COLA more often than not
60% confidenceSocial Security benefits will rise by 1.7% in 2027
60% confidenceSocial Security benefits will increase by 2.8% in 2027
60% confidence