The 2027 Social Security cost-of-living adjustment (COLA) may be one of the largest in 25 years, but its impact is uncertain. Estimates of the increase vary, with some predicting a 3.8% rise, while others suggest it could be as high as 4.7%. The actual size of the COLA and its effect on retirees' budgets remains to be seen, with some outlets warning that the increase may not be as beneficial as expected.