The start of a new year is usually a time when we look back over the past year, take stock of what happened in the year that has just ended, and look forward into the future at what we might expect in the coming year. This sort of annual tradition can be both a positive and a negative experience. Life always has its ups and downs, and we are reminded of this when we take stock of our lives.
When we look back on the year 2025, we cannot pretend that it has not been an unsettling year, with a few “ups” and some “downs”. It has been a year of major and sweeping changes in the way we live our daily lives, and this has been especially difficult for us as seniors, since the older we get, the more difficult it is for us to adapt to change, especially to rapid change. The most obvious change in 2025 has been the steady increase in the cost of living, especially about everyday expenses, such as food, clothing, housing, transportation, and so on. Prices at the grocery store have soared on almost every item, and some of the things that we are accustomed to eating have become unaffordable. The cost of home heating has gone up significantly and is expected to rise by about 9 percent over the next three months, so that the average American household will spend about $84 more on home heating this winter than they did last winter. Add to this the fact that this winter is forecasted to be the coldest winter in the past ten years.
The cost of living is expected to rise by about 3 percent in 2026. This is particularly discouraging for seniors, many of whom survive on a fixed income that does not necessarily keep pace with the rising cost of living.
For those seniors who have not yet retired and are thinking of doing so in 2026, you need to be aware that as of November 2025, the Full Retirement Age (FRA) went up to 66 years and 10 months for those born in January 1959 or later. There are other changes slated for 2026, affecting the Social Security tax limit, the so-called “earnings test,’’ Social Security credits, and so on. It is important to be informed about these matters and to plan so that you are not taken by surprise.
The start of a new year is traditionally a time of celebration, and there is much that we can celebrate at the end of 2025 and the beginning of 2026. Once the fireworks have ended and the parties are all done, we can continue to hope for better days. A Happy and Safe New Year to one and all!
Dr. Veena Alfred Ph.D
CEO /Administrator
