A Second Consecutive Trump Bump Has Social Security's 2027 COLA on Pace for a Double Dose of History

For the nearly 55 million retired workers who received a Social Security benefit in July, their payout is more than just a monthly check. A quarter-century of surveys from national pollster Gallup shows that Social Security income is necessary to make ends meet for up to 90% of retirees. Given how foundational this income is to our nation's aging workforce, it should come as no surprise that the annual cost-of-living adjustment (COLA) reveal in October is one of the year's most anticipated events. Social Security's COLA is effectively a raise passed on to recipients to offset the effects of inflation (rising prices).Social Security's 2027 COLA is shaping up to be something special. For a second consecutive year, it's set to be influenced by President Donald Trump's policies (i.e., a "Trump bump"), which should lead to history being made on two fronts.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool