The Senior Citizens League
Social Security and Bankruptcy; Some Things You Should Know
Many seniors face a declining financial situation in their retirement years, much of which is aggravated by continuing inflation and the inability of Social Security’s annual cost-of-living adjustment (COLA) to keep pace with rising costs. Some organizations, like The Senior…
Social Security’s “Good News/Bad News” COLA Story
The Senior Citizens League (TSCL) this week predicted that the 2027 Social Security cost-of-living adjustment (COLA) could reach 3.8%, a full percentage point higher than the 2026 adjustment. Of course, that’s the good news, but the driver here is the…
The Evolving Retirement Playbook: What Has Changed?
Many seniors currently living in retirement have traveled the same road: get an education, find a stable job, and launch a career that will last about 49 years. And along the way, be systematic about saving for those “golden years,”…
The 2026 COLA: The Net Increase, and its Relationship to Inflation
Social Security beneficiaries saw a gross increase of 2.8% in their monthly payments, but most have now realized that the net increase was less than that. This, of course, is the result of the $17.90 Medicare Part B premium increase…
COLA Thoughts: Looking Ahead to 2027
Even though the 2026 cost-of-living adjustments are just now being reflected in benefit payments, pundits have begun looking way down the road to what might happen next year. For example, The Motley Fool’s Bram Berkowitz, in a post on their…
Social Security and Income Taxes: Looking Beyond the $6,000 Bonus Deduction
At this point, it’s pretty well understood that the 2025 “One Big Beautiful Bill Act” provides a “bonus” income tax deduction intended to offset (for most seniors) the impact of federal income tax levied on Social Security benefits. It’s also…
Re-thinking the COLA Process
Two recent posts in the Social Security section of the Association of Mature American Citizens (AMAC) daily Newsline service provided readers with a recap of Social Security’s 2026 cost-of-living adjustment (COLA). The articles explained the process for determining the adjustment, and both included…
Changes in data collection could affect 2026 COLA calculation
The Bureau of Labor Statistics recently eliminated three cities from the data sampling used to calculate its inflation numbers. Is this a big deal, and could it affect the calculation of Social Security’s cost-of-living adjustment (COLA) for 2026 (and beyond)? According…
Inadequacy of COLA in the News Again
January Social Security benefits are underway at this point and, once again, observations of the COLA calculation process and its inadequacy to preserve purchasing power for seniors are surfacing. For example, a post this weekend by The Motley Fool’s Keith…
Senirs’ Growing Reliance on Social Security Benefits
The steadily eroding financial future of Social Security is popping up more frequently these days in a wide range of media outlets, and there’s no doubt that Congress’s strategy of kicking the can down the road is nearing its end.…