Social Security COLA: What to Expect | Business and Finance News

Social Security’s COLA for next year is still up in the air—officials won’t finalize the number until October 14th, after reviewing inflation data from July through September. While current estimates suggest a bump higher than last year’s 2.8%, experts warn the system may still fall short: since 2016, retirees have lost nearly 14% of buying power because the CPI-W index used doesn’t reflect seniors’ actual spending habits. Advocates push for a senior-specific measure, but it’s not happening anytime soon. If you’re feeling financial pressure, part-time work could help bridge the gap—COLAs are meant to match inflation, not transform your finances. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/8aeed078a3e7b67d