Unimpressed With the 2.8% 2026 Social Security COLA? 3 Ways You Can Supplement Your Checks

Core Insights - The 2026 Social Security cost-of-living adjustment (COLA) is set at 2.8%, resulting in an average increase of $56 per month or $672 per year for retirees, which may not sufficiently cover rising living costs [1][2][8] Group 1: Social Security Adjustments - The average senior's retirement benefit will increase by $56 monthly, totaling $672 annually, which may not be adequate for inflationary pressures [2][8] - The 2.8% COLA is slightly above the historical average but is not expected to significantly impact most beneficiaries' financial situations [1] Group 2: Supplementing Income - Personal savings can be utilized to cover shortfalls from Social Security, with options for tax-deferred and Roth account withdrawals [4][5] - Part-time work is suggested as a viable option for those with limited savings, providing a steady income stream while allowing for flexible hours [6] - Supplemental Security Income (SSI) may be available for low-income seniors to help manage expenses [8] Group 3: Earnings Test and Benefits - Beneficiaries can earn up to $24,480 without losing benefits; earnings above this threshold will result in a reduction of benefits [9] - Once beneficiaries reach their full retirement age (FRA), the earnings test rules change, allowing for higher earnings before benefits are reduced [9]