Many retirees depend on Social Security for their living expenses, with some lacking additional income sources. The cost-of-living adjustment (COLA) for 2026 is anticipated to be low, causing concern among baby boomers. Social Security benefits are adjusted annually based on inflation. In January 2025, benefits increased by 2.5%, but dissatisfaction among seniors remained. Inflation peaked at 9.1% in June 2022 but has decreased. Consequently, expectations for the upcoming COLA adjustment may not meet retirees' needs, prompting many baby boomers to prepare for less favorable financial conditions.
For people whose sole retirement income source is Social Security, money can get very tight.
Social Security COLAs are tied directly to inflation, and thankfully, inflation has cooled this year compared to recent years.
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