In 2026, Social Security benefits will receive a 2.8% cost-of-living adjustment, but it may not be enough to offset rising expenses, especially with the Medicare Part B increase. Meanwhile, the Senior Citizens League predicts a 2.5% COLA for 2027 based on preliminary inflation data, potentially lower than this year’s raise. Retirement savings may fall short, leading many retirees to seek additional income sources like part-time work or renting out spare rooms. Considering these challenges, it’s crucial to save well for retirement to supplement monthly benefits effectively and ensure financial security.

Read more at Nasdaq: Social Security’s 2027 COLA: There’s Bad News Already