Each year, retirees wait anxiously to hear how much their Social Security benefits will increase. The annual cost-of-living adjustment (COLA) is designed to help seniors keep up with inflation—but lately, it hasn’t been enough. The Social Security Administration (SSA) bases COLA on the Consumer Price Index for Urban Wage Earners (CPI-W), which often fails to reflect real costs retirees face. While official inflation numbers are cooling, grocery, utility, and medical bills remain stubbornly high. If your monthly increase barely dents your expenses, here’s how to make your Social Security stretch further.
