Social Security has been low and reports show it will continue to be and will remain low. According to the article below, the Social Security cost of living adjustment has averaged 1.4 percent for the last 10 years. That is certainly less than inflation.
Social Security’s purchasing power has decreased by thirty-three percent since 2000; even with cost of living increases. You need to prepare for serious inflation and the loss of the purchasing power of your Social Security.
See more in the Motley Fool’s article, 3 Reasons Social Security’s COLA Has Been So Pitiful Over the Past Decade
When we go over your financial plan, we’ll always consider this trend. If you’re not already planning with a financial advisor, give me a call.
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