Social Security's 2025 Cost-of-Living Adjustment (COLA) Forecasts Are in Agreement -- Here's How Much the Average Check Is Expected to Rise Next Year

No event is more anticipated by Social Security's more than 68 million beneficiaries than the annual reveal of the cost-of-living adjustment (COLA). That's because most retirees need their monthly Social Security check, in some capacity, to cover their expenses.For more than two decades, Gallup has conducted annual surveys that gauge retirees' reliance on Social Security as an income source. This year, for instance, 88% of retirees noted it represented a "major" or "minor" income source, with only 11% responding that it was unnecessary. In other words, most Americans would likely struggle without the financial foundation Social Security provides.In just 11 days -- Oct. 10 is the magic date to circle on your calendar -- Social Security's 2025 COLA will be unveiled. With multiple forecasts now in agreement as to the size of this COLA, we can now estimate how much the average check is expected to rise next year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool