EDITION: US | UK | Canada
Thecapitalpost.com - Breaking, International, Business, Sports, Entertainment, Technology and Video NewsThecapitalpost.com - Breaking, International, Business, Sports, Entertainment, Technology and Video News
Sign In|Sign Up
 
 
Bridging The Gap
Waiting on this big Social Security announcement? Here's what to do instead
  Monday 23 September, 2019
Waiting on this big Social Security announcement? Here\'s what to do instead

Millions of seniors rely on Social Security to pay their bills, and for many, those benefits are their primary source of income. It's no wonder, then, that so many eagerly await news of a cost-of-living adjustment, or COLA, each October.

The purpose of COLAs is to help seniors on Social Security retain their buying power in the face of inflation. As such, these raises, modest as they may be, can make a huge difference to people already on a tight budget.

For 2019, Social Security's COLA was a fairly generous 2.8%. It's too soon to know what the 2020 COLA will look like, but based on current data, estimates are coming in between 1.6% and 1.7%. Still, those numbers aren't set in stone, and until we receive a full set of third-quarter data from the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W (which determines the COLA), we won't know for sure what the raise for seniors will look like.

If you're itching to hear what your upcoming COLA will be, you're in good company. But know this: Even if that number comes in higher than expected, it still may not be something to celebrate.

Source: https://www.usatoday.com/story/money/2019/09/22/waiting-on-this-big-social-security-announcement-heres-what-to-do-instead/40140917/

Bookmark and Share
 
Post Your Comments:
Name :
*
City / State:
*
Email address:
*
Type your comments:
*
Enter Security Code:   


 Latest News »
 
  Donald Trump sticks with plan ...
  Trump's call to Ukraine's pres...
  Donald Trump's wary White Hous...
  Trump acknowledges bringing up...
  Trump talks with Democratic le...
  Trump slams former top nationa...
  Trump declares emergency in Fl...
  On climate, Trump says he won'...
  Donald Trump cancels trip to D...
  Trump advocates for more menta...
  'Make sure we win': Donald Tru...
  Trump threatens to retaliate a...
  Trump claims he'll 'end the AI...
  Trump accepts PM Imran's invit...
  Iraqi refugee Nadia Murad to T...
  Trump says U.S. shot down Iran...
  Trump retreats on citizenship ...
  Cities with the biggest Fourth...
  Donald Trump meets Kim Jong Un...
  Supreme Court blocks 2020 cens...
 

Washington, DC

  2010 The Capital Post. All rights reserved.