Social Security recipients could receive a large COLA adjustment, forecasters say. Here's how they can earn 4% on their money now.

MoneyWatch: Managing Your Money Social Security recipients could receive a large COLA adjustment, forecasters say. Here's how they can earn 4% on their money now. We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson May 19, 2026 / 3:15 PM EDT / CBS News Add CBS News on Google Social Security recipients may get a big COLA adjustment at the end of the year, but they don't have to wait until then to start earning more on their money. JJ Gouin/Getty Images The surge in inflation that occurred in recent months could lead to a larger-than-usual cost-of-living adjustment (COLA) for Social Security recipients. That was the big takeaway after a report released last week forecasted a potential COLA worth nearly 4%. Projections earlier in 2026 from the Senior Citizens League, an advocacy group for older Americans, sat between 2% and 3%. A 3.9% upward adjustment, however, would add approximately $80 to the average monthly check, bringing it to around $2,150. That's designed to keep pace with inflation, which surged in March and April and now sits at its highest level in about three years.But while the next formal COLA announcement won't be released until October 2026 (for 2027), there are still multiple ways in which recipients – and all savers – can earn an interest rate of 4% or more on their money right now. Some of the options will even allow savers to maintain access to their funds while still effectively taking advantage of today's elevated interest rate climate. So, how can thes...