I'm Not Counting on Social Security COLAs to Carry Me Through Retirement. Here's What I'm Doing to Combat Inflation Instead.

Social Security typically announces its cost-of-living adjustment (COLA) in October for the upcoming year. Some years bring a generous boost, like 2023's whopping 8.7% increase. But other years? Not so much. In fact, there were years like 2010, 2011, and 2016 when the COLA was essentially nonexistent.Unfortunately, 2025 is shaping up to be one of those years when the COLA isn't leaving people jumping for joy. According to a recent Motley Fool survey of 2,000 retirees, 54% of respondents believe the 2.5% COLA for 2025 falls short of keeping up with rising costs. On the bright side, a lower COLA often signals that inflation is cooling.The reality is, while COLA is helpful, it's far from a foolproof solution for managing inflation over the long term. That's why I'm not counting on COLA -- or Social Security in general -- to carry me through retirement.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool