Social Security's 2026 Cost-of-Living Adjustment (COLA) Is Set to Give Retirees the Short End of the Stick, Yet Again

For most retirees, Social Security is more than just a monthly deposit into their bank accounts. It represents a financial lifeline that helps them make ends meet.In 2023, Social Security lifted more than 22 million people out of poverty, according to an analysis from the Center on Budget and Policy Priorities (CBPP), and 16.3 million of these recipients were aged 65 and over. If Social Security didn't exist, the CBPP estimates the poverty rate for adults aged 65 and up would jump nearly fourfold, from 10.1% (with existing payouts) to 37.3%.Meanwhile, 24 years of annual surveys from Gallup show that 80% to 90% of aged beneficiaries lean on their payouts in some capacity to cover their expenses.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool