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Low COLA forecast for 2021
Brace yourself. The good news of $1.00 per gallon gas translates to a bad summation of overall inflation. And that means Social Security recipients are likely looking at less than a 1% cost of living adjustment (COLA) for 2021. The announcement is still six months away, but this piece in Kiplinger explains how the calculation is made and why it will be low (if anything at all). A chart in the article shows COLAs from the past decade. Read more here.
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