No Raises Next Year!

Reuters reported earlier today that the Social Security Administration has announced no Cost of Living Adjustment in 2016. It’s not an arbitrary decision — COLAs are regulated, and only occur if prices increase. And, as it happens, inflation has been close enough to flat that no adjustment can be made. Whether that matters to you, specifically, will depend quite a bit on your lifestyle. A large part of the reason for flat inflation is the falling price of gasoline. If you drive a lot, you might feel like you’re doing better anyhow, but if you don’t, the lack of a COLA may feel like a pay cut.

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