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Will there be a cost-of-living adjustment (COLA) in 2021?

Will the nearly 70 million people receiving Social Security benefits receive a cost of living adjustment (COLA) in 2021? According to Social Security expert Jim Blankenship, he stated “It’s really tough to say what Social Security’s COLA may be for 2021, but assuming nothing dramatic occurs in the third quarter, my best guess is that the COLA may at best be around .5 percent.” In Robert Powell’s article for USA Today, he writes what it will mean if there is no cost-of-living increase in 2021 and what you can do to prepare for it. Read Mr. Powell’s article here…

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