2020 Social Security COLA

Based on the last CPI-W for May, the next COLA may be as low as 1.4%

Still a few months to go before it can be finalized. The CPI-W for July, August and September is what matters.

6 comments

  1. I never count on the COLA for my USAF retirement or Social Security. I always assume it will be zero, that way I am not disappointed when I get any increase. I limit my purchases to needs not wants and drive a 2006 VW Jetta with 153,000 miles, still going strong, because I am able to do all the required maintenance. I have $5,000 in my emergency fund and add $500 to it every month. I will be debt free in Dec 2019, moved all my debt to zero interest accounts 12 months ago and will be able to invest $1,000 per month starting in Jan 2020. DEBT is the biggest problem I see in people’s financial future. The only thing I will ever have on credit is a used car, less than $10,000 or a house. Currently on a 5 month trip visiting family and friends in GA, FL, VA, NC WVA TX CA using cash that was saved up over 18 months. Living great in Montana on $36,000 per year.

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      1. Well, that is 37 states that may tax SS benefits in the future as 10,000 baby boomers retire each day, politicians will see the big pot of tax dollars just waiting to be harvested.

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