The projected Social Security cost-of-living adjustment (COLA) for 2026 is only 2.4%, the smallest increase since 2021, which poses challenges for older adults on fixed incomes. As housing-related expenses, such as property taxes, home insurance, and utility costs, continue to rise sharply, many baby boomer homeowners worry that this modest COLA increase will not adequately cover their essential costs. While inflation decreases overall, essential expenses tied to homeownership rise at a different pace, exacerbating financial challenges for seniors reliant on Social Security benefits.
The 2026 Social Security cost-of-living adjustment is projected at 2.4%, the smallest increase since 2021, raising concerns for aging homeowners' expenses.
Social Security adjustments may seem modest, but they are critically important for older adults living on fixed incomes facing rising housing-related costs.
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