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Social Security’s Cost of Living Adjustment (COLA) - Motley Fool
We always see early predictions for next year’s cost of living adjustment (COLA) which, of course, will determine how much of an increase we will see in our monthly Social Security payment. However, despite those early predictions, next year’s COLA can not be determined until we have completed the 3rd quarter of our calenda year - that is, the months of July, August, and September. As soon as the inflation numbers for those three months on solidly on the books, the Federal Government can determine what the average inflation rate was during the 3rd quarter. That number is slated to be released on October 14th, and that is when we will know exactly how much of a raise we’ll be getting in our monthly Social Security checks.
Some pundits are suggesting a 2027 COLA increase of somewhere between 3.8% and 4.7%, but the fact is these are just informed speculation; we won’t actually know the real number until October 14th. But whatever that inflation number is, it will likely not be seen as enough by most because we are already paying inflated prices for the goods we buy. Review all of these points in this Motley Fool article by Sean Williams.
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