Social Security COLA has been in effect for a month, and that means you should have received your boosted check.

Tens of millions of Americans rely on Social Security benefits for a substantial portion of their retirement income. Not only is Social Security a valuable source of retirement income, with the average retired worker receiving about $1,975 per month, but it is also the only inflation-protected source of income many retirees have.

The non-partisan advocacy group The Senior Citizens League predicts the 2026 COLA will be 2.1%, based on data from the Bureau of Labor Statistics’ CPI-W, the index used to calculate the annual increase. December’s CPI-W came in at 2.8%. Getty Images

For retirees, healthcare expenses are unavoidable and increasingly unaffordable. Fidelity Research says a 65-year-old retiring in 2024 can expect to spend an average of $165,000 on healthcare and medical expenses throughout retirement — a 5% jump over the previous year and more than double 2002’s estimate.

There's a reason Social Security benefits are eligible for an automatic cost-of-living adjustment, or COLA, each year. Without one, benefits would be practically guaranteed to lose buying power over time due to inflation.

Data from TSCL’s 2024 Senior Survey shows 62% of older Americans worry their retirement income won’t even cover essentials such as groceries and medical bills. Will 2026's COLA increase help?

The Social Security Administration (SSA) is preparing to distribute another round of payments this Monday, February 3 to eligible beneficiaries, but how do you know if you're due t

The Social Security program undergoes a series of revisions each year to ensure benefit payments keep pace with inflation and wages. The latest round of revisions took effect in January, and a recent survey published by Nationwide Retirement Institute suggests some of the changes will surprise many Americans.

Baby Boomers are currently between the ages of 61 and 79. Many people within this age group are already receiving Social Security while a good number have yet to claim their benefits. For those who have retired,