It’s always nice when a plan comes together — and retirement planning may be the most important thing you can do for your future.
Some people start their plans during their middle age or earlier. Others decide to really get serious once they’re in retirement.
It’s never a bad time to start — and the good news is there’s one topic that can help retirees and future retirees no matter where they are with their retirement planning. A Social Security Cost-of-Living-Adjustment (COLA) is something that benefits everyone.
This Concept is Crucial for Modern Retirement Planning
While the COLA is a priority, the case for it is part of a larger concept. Some would say it’s the concept that monthly benefit adjustments are fair and sensible. This is true on both accounts, as we’ve discussed. But there’s one life lesson that most people, especially retirees, know well.
Life is about planning for the unknown.
Looking ahead and building for the future rather than the present takes a certain state of mind. With costs rising in many areas and doing so fast, people must plan for prices in the future. They could be much higher, so beneficiaries need Social Security payments that match.
Add in that costs such as healthcare and taxes can eat up benefits quickly, and it’s important that seniors get the adjustment they deserve.
Your Future Could Be Brighter with a Bigger COLA
While the 2023 COLA provided some support to seniors, it wasn’t what it needed to be because of inflation. Given 2024’s COLA could be far less, we have work to do in making sure seniors are prioritized in Washington.
Seniors must work to make their voices heard. The same is true for soon-to-be retirees and retirement-minded people of all ages. If you value fair retirement, where seniors get back all they paid in adjusted for inflation, we need your help.
To support our cause for fair yearly COLAs to make retirement and retirement planning easier, sign our petition. You can also follow us on Facebook and Twitter for future updates about retirement planning, COLAs, and more.
