Five Financially Smart Ways to Ring In the New Year
A new year is a time for new beginnings. Let 2026 be the year that you prioritize your finances. That’s especially important for seniors living off Social Security income, as you will only see a $56 per month increase in benefits from the 2.8 percent cost-of-living adjustment (COLA).
Morgan Stanley, a global financial services company, has come up with a list of tips to help you plan for your financial future:
- Set financial goals
- Create a monthly budget
- Pay off debt
- Improve your credit score
- Establish or grow your emergency fund
The Seniors Trust is committed to improving the financial well-being of older Americans through the passage of the Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual COLA, increased minimum benefits, and ensure the long-term solvency of the Social Security program.
