Social Security's 2025 Cost-of-Living Adjustment (COLA) Comes With Bad News and Worse News for Retirees

Many retired workers are struggling with rising prices. Gallup reports that a record number of Americans cited inflation as a source of financial hardship in 2024, and a recent survey from the Employee Benefit Research Institute found that over half of retirees worry they will need to make substantial spending cuts to keep up with inflation.Consequently, Social Security's 2025 cost-of-living adjustment (COLA) has become a focal point for many seniors. Last week, the Social Security Administration (SSA) announced that benefits will increase 2.5% next year. But that pay bump comes with bad news and worse news for retirees and other Social Security recipients.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool