The Cost of Living Adjustment for Social Security

I have a pension which today I can take $635 a month with COLA or $832 without COLA. Lifespan in our family is in your 90s, how old are you? We also don't know if you were to take that money at the $832 right now. What would you do with the difference between the $635 that you would get with COLA versus the $8 32 without COLA? Inflation is pretty high right now, which means the cost of living adjustments for Social Security and things like that is also very high in about the 8%.

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