If it weren't for Social Security, millions of older Americans would no doubt struggle to keep up with their ongoing expenses. That's what makes Social Security's cost-of-living adjustments (COLAs) so important.

A free my Social Security Account will allow recipients to view the latest COLA notices detailing the exact amount they will receive starting next year.

Social Security benefits will arguably lose buying power next year because the 2.5% COLA understates inflation.

Now, with the year winding down, all Social Security retirees should mark Nov. 20 as another date to remember. Here's why.