For this kind of COLA you don't want diet


This is a big day for Social Security recipients; we find out the amount of the cost of living adjustment for 2019. A raise is not guaranteed, but some think this could be the biggest in seven years.

Houston CPA Bob Fumagalli says this is a day of uncertainty. 

"Last year I believe it went up three percent; you had a couple of years in the past where it didn't go up at all." 

But with the economy booming, many are forecasting the highest COLA adjustment in seven years. 

"It makes sense in the year that's going on right now and what's happening with the economy." 

A booming economy could mean a higher cost of living adjustment for Social Security recipients in 2019 but Fumagalli warns it's not always good news. 

"A couple of years, back in the Obama administration when things weren't going so well, that's when it didn't go up." 

Many experts expect a three percent raise this time, because of the strong economy. Last year, the 2018 COLA was two percent. 

Social Security Getty RF

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