Don't Bank on a Huge 2027 Social Security COLA to Cover Your Expenses. Try These 3 Moves Instead.

You may have heard that Social Security is on track for an above-average benefit boost in 2027, according to recent cost-of-living adjustment (COLA) predictions. That's a relief if you're struggling under the high inflation we've faced so far this year. But it's important to put an above-average COLA in perspective.

The latest projections from The Senior Citizens League (TSCL) estimate it at 3.8%, which would add about $79 to the average monthly benefit as of June 2026. That's not life-changing for most people. It may not even be enough to fully offset the higher cost of goods you've experienced over the last six months. You may need to try one or more of the following three solutions to supplement your 2027 Social Security checks.

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1. Rely more upon personal savings

Personal savings is your best option to pay for what Social Security doesn't, but not everyone has that choice. If you don't have a ton of savings, you may need to review your expenses to identify ways to reduce spending and balance your budget.

2. Consider a retirement job

Working in retirement may not be what you envisioned, but it could be a smart move if you're struggling to make ends meet with your current benefits and savings. A steady paycheck will help you limit your retirement account withdrawals, stretching your savings over a longer period of time.

You don't have to go back to working full-time or in the industry you'd worked in before. There are plenty of part-time and remote options that you may be able to squeeze in around your other retirement activities.

3. Look into other government benefits

If your Social Security checks aren't going far enough, check to see whether you qualify for other government benefits like Supplemental Security Income (SSI), Supplemental Nutrition Assistance Program (SNAP) benefits, or Medicaid. You may also be able to find state or local programs to help with housing or utility expenses. It can take time to get approved for these programs, so start early if you think you may need to rely upon them next year.

When the Social Security Administration officially announces the 2027 COLA in mid-October, you'll be able to estimate how much more you'll get next year by adding the COLA percentage to your existing checks. Then, subtract this amount from your monthly expenses to see how much you'll need to cover on your own. Use the last few months of 2026 to put together a plan, so you're ready for 2027.

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