The good news is that Kiplinger’s Retirement Report now predicts that the Social Security cost-of-living adjustment (COLA) for 2022 will jump by 6.3% in 2021. The bad news is that this will only serve to weaken a Social Security fund which is already quickly running out of money. And don’t forget the increase is based on rising prices so many of the goods and services that you will be purchasing next year are likely to cost more.
