A Small 2025 Social Security Cost-of-Living Adjustment (COLA) Could Be Just the Start of the Bad News for Retirees

Retirees collecting Social Security receive an annual cost-of-living adjustment, or COLA, to help them keep up with rising prices. The Social Security Administration calculates the COLA based on inflation data, and it will announce the official number on Oct. 10 this year.Based on what we know so far, seniors should expect a smaller COLA than they've become used to in recent years. In fact, the COLA will likely come in below what analysts expected just a few months ago. The current forecast for the 2025 COLA is a 2.5% increase in benefits. That's well below the 3.2%, 8.7%, and 5.9% increases retirees saw over the last three years.But a smaller COLA for next year may be just the start of bad news for retirees, and for anyone planning for Social Security to play an integral part in their retirement budget.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool