Major changes are coming to your Social Security benefits in 2026 as inflation and the cost of living continue to rise. According to a recent financial analysis, Social Security benefits might see a 2.7% cost-of-living adjustment (COLA) increase in the upcoming calendar year; however, according to some experts, it still might not be enough to help seniors reach their overall financial costs and goals. We have all the must-know information below. 

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Social Security’s Retirement Age Is Changing—Are You Affected?

When you’ve worked for many years, it’s unsurprising that retirement feels like the pot of gold at the end of the rainbow. However, those planning to retire at age 65 may need to reevaluate their current plan as Social Security is raising the retirement age this year. Why is it changing, and are there other […]

What is a Social Security cost-of-living adjustment? 

A Social Security cost-of-living adjustment—or COLA—is made after the Social Security Administration (SSA) decides to increase the amount of money they are giving recipients each month based on rates of inflation and the overall cost of living in the U.S. 

This has been in effect since 1975, and the biggest jump happened in 1980 when the COLA was increased by 14.3%. On the flipside, the lowest increase happened in 2010, 2011 and then again in 2016 when the COLA was 0%. 

“The purpose of the COLA is to ensure that the purchasing power of Social Security and Supplemental Security Income (SSI) benefits is not eroded by inflation,” reads the SSA website. “It is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the last year a COLA was determined to the third quarter of the current year. If there is no increase, there can be no COLA.” 

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More People Are Filing for Social Security Early at 62. Should You?

Thanks to seemingly never-ending announcements regarding Social Security policies, seniors who are close to retiring may be curious about how things could change when it comes time to collect benefits. All of the certainty surrounding the program is also leading many to think about applying sooner rather than later. If you’re approaching age eligibility, you […]

A look at the COLA increase expected to happen in 2026

After the July inflation numbers were reported earlier this month, several news outlets, including CNBC and USA Today, reported that people receiving Social Security checks are estimated to see a 2.7% increase in their payouts in 2026. The SSA hasn’t yet confirmed this increase and isn’t expected to until October, when it normally announces the changes coming to Social Security for the upcoming year. 

Experts say the increase still won’t be enough

Despite the potential increase, financial experts are worried that it still won’t be enough to help seniors fight things like inflation and President Donald Trump’s ever-changing tariffs. 

“My amount is about $1,500 a month,” Maria Garcia, a 64-year-old, told Forbes. “When I was working, I was making $2,800 a month. I’m sure there are thousands, if not millions, of seniors in this nation like me who can’t afford their medication and either get their medication and eat cat food, or skip their medication.”

And she’s not alone in feeling that way. According to Mary Johnson, an independent Social Security and Medicare policy analyst, per USA Today, “[The] prices on the items that older Americans use the most remain elevated.” 

How to get the most from your Social Security benefits

So how can you change that and ensure that you are getting the most out of your Social Security checks? 

The first is to make sure that you aren’t claiming your benefits until you actually need them. Just because you can opt for it at 62 doesn’t mean you should. 

“Starting your benefit at age 62 can permanently reduce your retirement benefit by 30%,” says Regina McCann Hess, CFP, CDFA, a financial advisor at Forge Wealth Management. 

The second is to make sure you are getting all the most out of your potential benefits. These can include spousal and widow benefits. 

And finally, if you still want to learn how to maximize your social security return, you can always reach out to a financial expert who can help you budget the amount you receive.