Latest news with #MaryJohnson
Yahoo
7 days ago
- Business
- Yahoo
2026 Social Security COLA estimated at 2.7%. Why seniors still fall behind.
Social Security recipients are still forecast to see a 2.7% bump in their monthly checks next year, the same as last month's estimate, based on the latest inflation report, a new analysis showed. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), the index used to calculate the annual adjustment to Social Security benefits, increased 2.5% in July. Overall inflation rose 2.7%, flat from June. The Federal Reserve's inflation goal is 2%. The annual adjustment, also known as the cost-of-living-adjustment (COLA), to Social Security benefits is meant to help seniors maintain their purchasing power over the years, but that hasn't always worked, said Mary Johnson, an independent Social Security and Medicare policy analyst. "Prices on the items that older Americans use the most remain elevated," she said. Categories that see higher levels of inflation than the overall rate include housing, medical costs, transportation and groceries. According to the Bureau of Labor Statistics' most recent weighting for older consumers, these categories when added together comprise more than 85% of household budgets of consumers age 62 and older. Why is July COLA estimate important? The actual Social Security COLA that the Social Security Administration typically announces in October is based on inflation data in the third quarter, or July, August and September. So July is the first month that will be considered for the 2026 COLA calculation. Here's how COLA is calculated: CPI-W for July, August and September are averaged, and then compared against the average of the same three months in the prior year. The percentage of difference is what the Social Security Administration uses to determine the annual COLA adjustment. CPI-W largely reflects the broad index the Labor Department releases each month, although it sometimes differs slightly. Last month, the overall consumer price index rose 2.7% and the index for urban wage earners increased 2.5%. Social Security's future The Social Security Office of the Chief Actuary estimates President Donald Trump's tax package moves the insolvency date for the Social Security trust fund forward by about three months from 2033 to 2032. Part of that is due to the increase in the standard deduction for those age 65 and older from 2025 through 2028. The higher standard deduction means less overall tax liability for most Social Security beneficiaries, but it also means lower revenues received by the Social Security and Medicare Trust Funds from the taxation of benefits. 'Congressional legislators did not include any provision to replace these program funds that were formerly earmarked for the payment of current Social Security and Medicare benefits,' Johnson said. According to Social Security Trustees, a 25.8% cut in 2034 benefits would be necessary. Johnson calculates a 25.8% reduction could cut lifetime Social Security income for beneficiaries at an average age of 65 in 2025 by $176,400 over a 25-year retirement. How many people receive Social Security benefits? In July, 74.36 million people received Social Security, according to the Social Security Administration. These beneficiaries include retired workers, disabled workers, survivors of deceased workers and those receiving Supplemental Security Income. The average monthly benefit was $1,863.12 in July. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday. This article originally appeared on USA TODAY: Social Security 2026 COLA estimated at 2.7% but seniors still lagging Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
7 days ago
- Business
- CNBC
Social Security cost-of-living adjustment may be 2.7% in 2026, new estimates find
Social Security beneficiaries may see a 2.7% cost-of-living adjustment in 2026, according to new estimates from policy experts, based on the latest government inflation data. That projected increase would be higher than the 2.5% adjustment beneficiaries saw in 2025. Social Security implements a cost-of-living adjustment every year to adjust benefits for inflation. The Social Security Administration typically announces the official change for the upcoming year in October. New estimates from both Mary Johnson, an independent Social Security and Medicare policy analyst, and the Senior Citizens League, a nonpartisan senior group, point to a 2.7% COLA for 2026, based on new July inflation data. Last month, Johnson had estimated a 2.7% Social Security COLA for 2026, while the Senior Citizens League had projected 2.6%. Social Security cost-of-living adjustments have averaged 2.6% over the past 20 years, according to the Senior Citizens League. To be sure, there are still two months of inflation data that will be factored into the official COLA calculation for next year. The official Social Security cost-of-living is based on three months' of government inflation data for July, August and September, which is averaged and compared to the same three months for the previous year. The percentage difference from one year to the next determines the COLA. The COLA is calculated based on a subset of the consumer price index, the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W. The consumer price index was up 2.7% over the past 12 months, according to new July data released by the Bureau of Labor Statistics on Tuesday. The CPI-W was up 2.5% over the last 12 months as of July. Tariffs had just a modest effect on the latest consumer price index data, though the impact of the new policies did show up in several areas including household furnishings and supplies. If tariffs do affect inflation in the coming two months, that may impact the Social Security cost-of-living adjustment for 2026.
USA Today
7 days ago
- Business
- USA Today
2026 Social Security COLA estimated at 2.7%. Why seniors still fall behind.
Social Security recipients are still forecast to see a 2.7% bump in their monthly checks next year, the same as last month's estimate, based on the latest inflation report, a new analysis showed. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), the index used to calculate the annual adjustment to Social Security benefits, increased 2.5% in July. Overall inflation rose 2.7%, flat from June. The Federal Reserve's inflation goal is 2%. The annual adjustment, also known as the cost-of-living-adjustment (COLA), to Social Security benefits is meant to help seniors maintain their purchasing power over the years, but that hasn't always worked, said Mary Johnson, an independent Social Security and Medicare policy analyst. "Prices on the items that older Americans use the most remain elevated," she said. Categories that see higher levels of inflation than the overall rate include housing, medical costs, transportation and groceries. According to the Bureau of Labor Statistics' most recent weighting for older consumers, these categories when added together comprise more than 85% of household budgets of consumers age 62 and older. Why is July COLA estimate important? The actual Social Security COLA estimate that the Social Security Administration typically announces in October is based on inflation data in the third quarter, or July, August and September. So July is the first month that will be considered for the 2026 COLA calculation. Here's how COLA is calculated: CPI-W for July, August and September are averaged, and then compared against the average of the same three months in the prior year. The percentage of difference is what the Social Security Administration uses to determine the annual COLA adjustment. CPI-W largely reflects the broad index the Labor Department releases each month, although it sometimes differs slightly. Last month, the overall consumer price index rose 2.7% and the index for urban wage earners increased 2.5%. Social Security's future The Social Security Office of the Chief Actuary estimates President Donald Trump's tax package moves the insolvency date for the Social Security trust fund forward by about three months from 2033 to 2032. Part of that is due to the increase in the standard deduction for those age 65 and older from 2025 through 2028. The higher standard deduction means less overall tax liability for most Social Security beneficiaries, but it also means lower revenues received by the Social Security and Medicare Trust Funds from the taxation of benefits. 'Congressional legislators did not include any provision to replace these program funds that were formerly earmarked for the payment of current Social Security and Medicare benefits,' Johnson said. According to Social Security Trustees, a 25.8% cut in 2034 benefits would be necessary. Johnson calculates a 25.8% reduction could cut lifetime Social Security income for beneficiaries at an average age of 65 in 2025 by $176,400 over a 25-year retirement. How many people receive Social Security benefits? In July, 74.36 million people received Social Security, according to the Social Security Administration. These beneficiaries include retired workers, disabled workers, survivors of deceased workers and those receiving Supplemental Security Income. The average monthly benefit was $1,863.12 in July. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
Globe and Mail
01-08-2025
- Climate
- Globe and Mail
Last Chance to Save Summer Gardens: Smart Irrigation & Soil Monitoring Help Beat the Drought
As scorching temperatures and prolonged drought continue to grip large parts of the United States, home gardeners are facing a seasonal tipping point: act now, or risk losing the last of their summer yields. According to Yieryi, a fast-growing name in smart gardening tools, the final opportunity to revive struggling plants lies in precision—specifically, smart irrigation and soil monitoring. 'August isn't too late—but it's the final window,' says Lily, founder of Yieryi and a soil scientist with over a decade of experience. 'We've seen it time and again: people are watering regularly, but their plants still suffer. Often, it's not a lack of water—it's an imbalance in pH or poor distribution at the root level.' Why Smart Gardeners Rely on Data, Not Guesswork？ When it comes to late-summer plant health, guessing can be costly. Many gardeners assume that wilting means under-watering, but without checking soil moisture and pH, they could be missing the real issue—or even making it worse. This is where Yieryi's drip irrigation systems and soil testers come in. Together, they offer a complete, user-friendly toolkit to understand what's actually happening beneath the surface. Instead of applying water or fertilizer blindly, users can pinpoint where their efforts are most needed—leading to more targeted care, better results, and less waste. From Crisis to Comeback: Real Gardeners, Real Results In Santa Rosa, California, Mary Johnson had nearly given up on her heirloom tomatoes after weeks of heat left them shriveled and yellowing. 'I thought I was underwatering, so I kept adding more,' she says. 'But when I used Yieryi's tester, I saw that the topsoil was saturated and the pH was off. After adjusting, my plants bounced back—and I ended up harvesting 30% more than last year.' In Austin, Texas, Ben Ramirez faced a similar problem with his lawn. 'It looked green on the surface, but the roots were dry,' he explains. 'Using a soil moisture meter, I realized I needed to water deeper but less often. I saved the lawn—and my water bill went down, too.' The Benefits of Drip Irrigation in Hot, Dry Climates Yieryi's drip irrigation systems deliver water directly to plant roots, minimizing evaporation and maximizing absorption. In drought-prone regions, this method helps gardeners make every drop count. Combined with accurate soil testing, it creates a smart, responsive growing system—ideal for vegetable beds, flower gardens, and even container plants. Soil pH: The Underrated Factor in Summer Survival While water gets the most attention, soil pH is just as critical for plant performance. An imbalanced pH can lock up nutrients, meaning your plants go hungry even in nutrient-rich soil. Yieryi's testers give gardeners instant feedback on soil acidity or alkalinity, so they can amend and optimize before visible damage occurs. 'For many crops, staying in the right pH zone—usually between 6.0 and 7.0—makes a world of difference,' Lily explains. 'It's the kind of information that transforms frustrated gardeners into confident growers.' Why Time Is Running Out With municipal watering restrictions in effect and heat stress accumulating in root zones, Yieryi is encouraging home growers to take action during this final stage of summer. Whether it's saving a struggling tomato plant or protecting next season's soil health, now is the time to assess and adjust. 'Plants are surprisingly resilient,' Lily adds. 'But they need the right conditions—and they need them now. With simple tools and good data, even a stressed garden can recover.' Want to learn more practical gardening insights? Please visit: Website: E-mail: sales01@ TikTok:
Miami Herald
17-07-2025
- Business
- Miami Herald
Social Security's 2026 COLA on track to break a 29-year trend
On July 15, 2025, the Bureau of Labor Statistics released the latest CPI numbers. That's a really boring sentence, but the numbers are actually extremely important and should be very interesting to Social Security retirees. That's because the Consumer Price Index for Urban Wage Earners and Technical Workers (CPI-W) is used to determine the Cost of Living Adjustment (COLA) that retirees will receive in 2026. That's better known as the annual Social Security benefits increase, or the raise that Social Security retirees get in most years. Don't miss the move: Subscribe to TheStreet's free daily newsletter The Social Security Administration looks at changes to a basket of goods and services that is included in the consumer price index. The average changes to CPI-W are calculated in the third quarter of the year, and that's the raise retirees get on their Social Security benefits. Since the June numbers are the first ones to be released from this third quarter's data, they provide a very important glimpse into what next year's raise may look like. And based on those numbers from July 15, the 2026 Social Security COLA is on track to do something it has not done in 29 years. The July CPI data showed that the Consumer Price Index rose 2.7% on an annual basis, while the CPI-W numbers showed a 2.6% year-over-year increase. While it's the CPI-W numbers on which COLAs are based, experts are also making projections for what the CPI numbers will look like for the next two months, which are also included in the benefit calculation. Related: Millions of Medicare beneficiaries could see major price shock Based on those projections, the Senior Citizens League has predicted a 2.6% benefits increase next year, up from the 2.5% raise predicted last month. Independent Social Security and Medicare policy analyst Mary Johnson, however, is projecting a 2.7% bump. Regardless of which of these is right, however, the COLA is about to buck a 29-year trend. That's because, for the first time since 1996, the COLA is going to be above 2.5% for five consecutive years. This is a once-in-a-generation shift for today's retirees, and it is not something that most people will probably see again in their lifetime. If the COLA comes in as projected, Social Security is going to hit a major milestone. For the first time since 1996, retirees are going to see a COLA that has been equal to or above 2.5% for five years running. Here's what the recent COLAs have looked like: 2021: 5.9%2022: 8.7%2023: 3.2%2024: 2.5%2026: 2.6% or 2.7% (projected) And the last time the COLAs had a five-year streak where they were at 2.5% or higher was from 1993 to 1996. Here were the COLAs during that time period: 1992: 3.0%1993: 2.6%1994: 2.8%1995: 2.6%1996: 2.9% That period in the 1990s was actually part of a decades-long streak of high COLAs due to high inflation. Since that time, however, there has not been another five-year period when raises were so high. In fact, there were several years in the mid-2000s when COLAs were under 1.00%. Related: Jean Chatzky sends strong message on 401(k)s, Social Security While it may seem, in theory, that five years of raises are good for retirees, that's very much not the case. In fact, this has been a tough period for seniors due to the significant inflation resulting from the fallout of the Covid pandemic. High inflation is not good for people on a fixed income with conservative portfolios, which fits the description of most retirees. More on retirement: Dave Ramsey offers urgent thoughts about MedicareJean Chatzky shares major statement on Social SecurityTony Robbins has blunt words on IRAs,401(k)s Still, seniors on Social Security can expect a record-breaking raise this year. Hopefully it will be the last one that's so high as inflation comes under control. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
