Social Security COLA 2027: Why a New Mexico financial advisor says you shouldn’t spend more

Promising to be the biggest adjustment in four years, our financial expert is actually advising you not to spend extra. Here’s why.

ALBUQUERQUE, N.M. — New projections are out for next year’s Social Security raise and it could be the biggest cost-of-living adjustment in four years.

However, David Hicks with Oakmont Advisory Group says you shouldn’t spend more with the 3.8% increase, amounting to about $75 to $80 more per check.

Hicks breaks down what this all really means for New Mexico retirees in the video above.