• Question
  • social security cost of living adjustment

    Asked on 11/2/2009

    What is the social security cost of living adjustment for 2010?

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  • Categories: Retirement Planning, Inflation and COLA

Answers

  • NewRetirement User

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  • For the first time in 35 years, Social Security recipients won't be getting a cost of living increase in their monthly checks.

    There will be no Cost of Living increase this year because consumer prices have been level or even falling. In the past nine months, the consumer price index—the official measure of the cost of living—has fallen by 2.3%, meaning the real purchasing power of a Social Security check has risen.

  • Login to rate this answer:   Answered on 12/21/2009
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.