Social Security's Historic 2027 COLA May Have a Silver Lining for the First Time Since 2023

Last year, Social Security celebrated its 90th anniversary, and the average monthly retired-worker benefit surpassed $2,000 for the first time. Making history is commonplace for America's most important retirement program.But for the more than 71 million people who took home a traditional Social Security benefit in May -- retired workers, workers with disabilities, and survivors of deceased workers -- there's arguably no annual announcement more anticipated than the cost-of-living adjustment (COLA).Social Security's COLA, announced during the second week of October, is the annual "raise" that accounts for the inflationary pressures beneficiaries are facing. Hypothetically, if prices for a broad basket of goods and services regularly purchased by Social Security recipients rose by 3% and payouts remained static, beneficiaries would lose buying power over time.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool