Social Security COLA 2025: Retirees Should Be Prepared for Bad News and More Bad News

Next month, the Social Security Administration (SSA) will be announcing the latest cost-of-living adjustment (COLA) for 2025. Beneficiaries have been receiving COLAs for decades, with the first adjustment taking effect in 1975.But with inflation soaring in recent years, they've been more important than ever. Millions of older adults rely heavily on Social Security, and every extra dollar counts.In 2024, Social Security recipients received a 3.2% adjustment. The average retired worker benefit lands at roughly $1,900 per month, so that amounts to a raise of just over $60 per month. Unfortunately, retirees can expect some not-so-good news about the short- and long-term future of Social Security.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool