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The annual Social Security cost-of-living increase will be 3.6% starting in January. NPR's Stephan Bisaha spoke with one woman who says that's not enough.
STEPHAN BISAHA, BYLINE: Owning a home by yourself can be expensive, especially as you get older. That's what 76-year-old Vicki Dixon (ph) says.
VICKI DIXON: I used to drag that 30-foot ladder around and throw it up on the house. And up I'd go like a little old monkey. But (laughter) not anymore. I can't. If you can't do it yourself, you're going to have to pay somebody else to do it for you.
BISAHA: Her home is surrounded by Illinois farmland. Dixon gets by there on her late husband's pension and her Social Security. That used to be enough until about three years ago, when she really started to feel the pressure from rising prices, especially groceries.
DIXON: And I don't eat that much. But come on, you know?
BISAHA: To keep up with those rising costs, each January, the Social Security Administration bumps up how much it pays out. And it bases that on September's inflation numbers. So we now know, next year, on average, monthly social security checks will go up about $75.
What does that make or mean for you?
DIXON: It doesn't mean that much. But it's - I'm grateful for it. I mean, it's better than not getting it at all. Let's put it that way.
BISAHA: The cost-of-living adjustment is not meant to be like a raise or bonus. But most seniors do not think that it's enough, according to AARP. The vast majority of its members in a survey said they would need a much bigger bump, like 5% to 8%, to keep up with prices. Bill Sweeney is AARP senior vice president for government affairs.
BILL SWEENEY: I think it really just shows that this cost-of-living adjustment is both critical but really is just barely helping people make ends meet and barely get by.
BISAHA: The adjustment is also meant to be broad. It does not consider how much each senior's personal expenses are going up, like Vicki Dixon's growing home maintenance costs.
DIXON: One of these days, it's going to run me out of here because I won't be able to keep up with it. So it's kind of scary.
BISAHA: She owns the house, but she says at this rate, she has another five years before staying becomes too expensive.
Stephan Bisaha, NPR News.
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