During your upcoming Thanksgiving feast, you may discuss many topics around the table — including the upcoming Social Security COLA.
A season of gratitude and a much lower cost-of-living adjustment increase than last year may not seem to go together well. It’s safe to say they aren’t exactly the type of perfect match like turkey and stuffing, or mashed potatoes and gravy.
For seniors and retirees, what’s the right perspective to have on this situation? For each person, their opinion is as subjective as their taste in food. But here at NORA, we believe it’s possible to balance gratitude and realism.
We’re Grateful for the Social Security COLA — But Are We Satisfied?
As we approach the Thanksgiving season, seniors across the nation have reasons to be thankful for a 3.2 percent increase in Social Security benefits. This adjustment offers a welcomed boost to their income. This could make it easier to cover the rising costs of living, healthcare, and other essentials.
However, this season of gratitude shouldn’t deter us from advocating for more. While the 3.2 percent COLA is a step in the right direction, it’s essential to recognize that seniors’ needs often outpace these incremental increases. The economy and inflation rates can fluctuate, and seniors deserve adjustments that genuinely reflect their real-life expenses.
It’s perfectly okay for seniors to voice their concerns and advocate for a fair COLA. Our seniors have earned the right to a dignified and secure retirement — and they shouldn’t settle for less! In the spirit of Thanksgiving, let’s encourage open dialogues and discussions on this topic.
While we’re grateful for the 3.2 percent COLA, let’s also use this season of gratitude to express our desire for policies that better support our seniors, ensuring they can enjoy their well-earned retirement years without financial stress. Let’s come together to make sure their voices are heard, and their needs are met.
Share your thoughts about the COLA. Are you grateful? Disappointed? A bit of both? Let us know! You can also follow us on Facebook and Twitter for more content like this.
