Social Security's 2026 Cost-of-Living Adjustment (COLA) Is Missing an Important Silver Lining for a Third Straight Year

In May, Social Security retired-worker benefits made history by averaging over $2,000 per month for the first time in the program's nearly 90-year history. While Social Security income isn't making anyone rich, it is providing a financial foundation for more aging workers than you might realize.In 2023, more than 22 million people were pulled above the federal poverty line by their Social Security payout, which included 16.3 million adults aged 65 and over. If this program didn't exist, the poverty rate for seniors aged 65 and above would nearly quadruple from 10.1% to an estimated 37.3%.For Social Security beneficiaries, no announcement is of greater importance than the annual cost-of-living adjustment (COLA) reveal, which will land on Oct. 15 this year. Even though Social Security's 2026 COLA is on track to make history, a critical silver lining will be missing for a third consecutive year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool