Key Points
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Add 3.6% to your existing checks to estimate how much more you’ll get next year.
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Then calculate how much of your monthly expenses you’ll still have to cover on your own.
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Put together a plan for how you’ll pay for your remaining expenses in 2027.
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Social Security beneficiaries will get a 3.6% raise next year, according to the Social Security Administration. This is slightly higher than recent estimates, though a bit lower than what many were hoping to see.
While we still have a few months before you’ll notice a change to your checks, it isn’t too early to start planning for your 2027 Social Security benefit. Here are three moves worth making in the last few weeks of 2026.
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1. Estimate how much your future Social Security benefit will be worth
Add the 3.6% 2027 Social Security COLA to your current checks to get an idea of how much more you’ll receive next year. For example, if you qualify for the $2,088 average monthly benefit as of August 2026, the 3.6% COLA would add $75 to your monthly checks. Keep in mind that if you’re on Medicare, the annual Part B premium increase will offset some of your COLA.
Watch out for your personalized COLA notice from the Social Security Administration in early December. You should also be able to access this through your my Social Security account. It will tell you exactly how much more you’ll get next year, including withholding for Medicare Part B premiums, if necessary.
2. Figure out how much of your living expenses your Social Security checks will cover next year
Compare your new Social Security benefit amount against your average monthly expenses over the last few months. Subtract your new check from this average to figure out how much of your retirement expenses you’ll have to cover on your own as we move into 2027.
You may need to rerun these calculations when you get your COLA notice if your actual benefit amount proves to be different than what you were expecting. But this shouldn’t be an issue for most people.
3. Plan how you’ll cover the rest of your expenses
Use the final few weeks of 2026 to plan how you’ll cover your remaining expenses next year. This might be easy if you have substantial personal savings. You can just increase your retirement account withdrawals as needed.
If that isn’t an option, you might need to explore other solutions, such as taking on a part-time job or applying for additional government benefits. Figure out what works best for you and put it into action in January. Then, check in with yourself after a month or two to see how the plan worked and make adjustments as necessary.
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