Social Security Is Going Up $73. Your Bills May Rise Twice That.

Social Security’s cost-of-living adjustment could add roughly $73 a month to the average check next year. But what happens when seniors’ actual expenses rise by much more? The problem may be built into the formula itself. Social Security uses an inflation index based on working households, not retirees, even though seniors often face higher healthcare and household costs. And when politicians start taking credit for the “raise,” remember: the adjustment is automatic. The real question is what they plan to do about the widening gap between the official calculation and what seniors actually pay. Stay fierce. Stay independent.