Nearly 40% of these retirees rely on SSA payments for at least half of their income, and about 13% of recipients rely almost exclusively on them. The financial health of millions of Americans rests very squarely on the shoulders of Social Security.

Social Security's biggest reveal of the year is creeping up quickly, but a majority of its 68 million beneficiaries are liable to be left disappointed.

After decades of almost no increase, Social Security recipients have enjoyed larger than usual cost of living adjustments (COLA) since 2022. Unfortunately,