It seems paradoxical, but some of America’s seniors could be facing big financial trouble.

Where’s the contradiction? Inflation is reportedly going down. A 3.2 percent COLA went into effect this year.

Or more specifically, the numbers look good — depending on how you look at them.

However, everyone’s situation is different. And in that case, current and future seniors could be facing an uphill battle to enjoy a comfortable retirement life.

Inflation Could Outpace Senior Income — Even with Benefit Increases

We’re always told that as long as we plan responsibly for retirement, it will be right there waiting for us.

Seniors dream about a life where they can enjoy the world without punching a time clock. This means different things for different retirees. Some dream of traveling and seeing new places. Others want to spend more time with their loved ones across multiple generations. Some want to take up new hobbies. Others just want to relax.

These goals all share one thing in common — they cost money. With prices still high, seniors could see their retirement plans in jeopardy. They may not be completely canceled, but changes may be needed.

Many seniors face money problems in retirement, whether it’s from debt, medical expenses, or inflation. Social Security is a huge help — some seniors even live solely off their check. But as prices continue to remain high and even increase, COLAs must do the same.

Consistent COLAs Can Mitigate Financial Trouble for Seniors

The new COLA should unquestionably be higher than the last one. Seniors deserve yearly COLAs, and reimbursement for years skipped. Will you help us make this a reality?

NORA fights for seniors to enjoy financial comfort in retirement. Learn about our cause here, then follow us on Facebook and Twitter for more content like this.