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Older adults say projected Social Security COLA falls short
Original: social security
AARP reports that most older adults believe a projected 3.5% Social Security cost-of-living adjustment for next year would not be enough to keep up with their actual expenses. With inflation still weighing on household budgets, many retirees say the expected boost will fall short of covering rising costs for essentials such as food, housing and healthcare, renewing debate over whether the annual formula adequately protects seniors' purchasing power.
Why now: A new cost-of-living adjustment projection has renewed concern among older Americans about whether benefits will keep pace with living costs.
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