Social Security is now poised for a big ‘Trump Bump’ in the coming months – here’s how much more money you can get

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Social Security is now poised for a big ‘Trump Bump’ in the coming months – here’s how much more money you can get

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Social Security benefits look poised for a so-called “Trump Bump” in 2027. If that sounds like good news, it’s not. In fact, some would call it a symbol of President Donald Trump’s failed economic policy and the country’s current state of affairs.

That’s because the Trump bump comes from the annual Social Security cost-of-living adjustment or COLA. Every year, the agency adjusts benefit payments to keep up with rising costs of living, and inflation this year is hot enough to justify a major adjustment.

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Here’s a closer look at what millions of beneficiaries can expect in the coming months.

High cost of living

Donald Trump’s attack on Iran and the subsequent closure of the Strait of Hormuz sent oil prices around the world soaring. In the US, the national average gas price is currently $4.51, according to AAA (1). That’s up 50% since the attacks began in early March, according to NBC News (2).

High fuel prices have a negative impact on all other aspects of the economy, and monthly inflation tripled in March, according to CNN (3).

This disruption, coupled with the ongoing trade war and import tariffs in various countries, is putting pressure on the average consumer. Fortunately, retirees who rely on Social Security benefits receive an annual COLA to offset some of this impact.

Read More: Robert Kiyosaki warned of ‘Greater Depression’ – with millions of Americans falling into poverty. Was he right?

Is COLA enough?

With the 2027 COLA announcement expected in October, early projections come in at a higher than 2.8% increase for seniors to receive in 2026 (4).

The Senior Citizens League (TSCL) (5), the largest non-partisan advocacy group, currently supports the 2027 adjustment to 3.3%. Independent Social Security and Medicare policy analyst Mary Johnson similarly predicts it will reach 3.2%, nearly double her pre-Iran war forecast of 1.7% and a significant step up from the 2026 figure, per CNBC (6).

It is important to note that these figures are national averages and may not match your reality. If you drive a lot or live in an expensive city like New York or San Francisco, the official COLA likely outpaces your actual inflation, meaning you could still lose power even after the increase hits.

Get your finances in order

For retirees or investors worried about the impact of inflation, gold can help cover the difference that annual government adjusted benefits exclude.

Historically, investors have taken this precious metal as a safe haven during times of global conflict, uncertainty and inflation. Now, you can add exposure to gold with additional tax benefits with Priority Gold.

The platform allows you to hold physical gold or gold-related assets within a retirement account, combining the tax benefits of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to hedge their retirement funds against economic uncertainty.

To learn more, you can find a free informational guide that includes details on how to get up to $10,000 in free silver on qualifying purchases.

Times of inflation are also a good time to think about how to protect your retirement savings. The expert advice of a financial advisor can help you improve your finances and find strategies to ensure that your money is protected even when the cost of living explodes.

This is where Advisor.com can help. The platform connects you with an expert near you for free.

Advisor.com recommends hard, vetted advisors based on track record, client ratings and regulatory background. Also, their network of advisors are referrals, which means they are legally required to act in your best interest.

Just enter a few details about your finances and goals, and Advisor.com’s matching tool will connect you with a qualified professional who best fits your needs and unique financial goals.

Deciding on the right advisor isn’t always easy — there’s no one-size-fits-all solution. That’s why Advisor.com allows you to schedule a free initial consultation with no obligation to hire, so you can find the right fit for you.