CPI

En español |  Nearly 60 million Social Security recipients will probably not get a cost-of-living increase next year, according to projections in the 2015 Social Security and Medicare trustees reports.

Inflation lately has been pretty tame. Still, the possibility that it could raise its ugly head again, eating away at our spending power and standard of living, is always in the back of our minds. That’s why it’s important to understand inflation to better protect ourselves from its potential impact. Knowing these myths about inflation is a good place to start.

I often hear that interest rates are awful and that it's the worst time ever for retirees needing to live on fixed income. Yet when you look at after-tax, inflation-adjusted returns, a different picture emerges.

The GOP-controlled House of Representatives approved a budget proposal first. Then came a very different document from the Democratic-controlled Senate. Now thousands more pages of numbers will land with a thud on Capitol Hill on April 10.

You won't be rolling in dough with next year's Social Security cost-of-living adjustment at 1.7 percent - about $21 a month more for people collecting the average retirement benefit of $1,236.

Social Security recipients, don't get your hopes up.