Social Security's 2025 Cost-of-Living Adjustment (COLA) Has Narrowed -- Here's How Much the Average Check Is Forecast to Rise Next Year

For most retirees, Social Security is more than a check. It represents a necessary source of income that most retired-worker beneficiaries couldn't live without.Over the last 23 years, national pollster Gallup has been surveying seniors to determine how reliant they are on their Social Security benefit. At no point in this greater than two-decade stretch of annual polling has the percentage of retirees needing their Social Security income to make ends meet fallen below 80%. In 2024, 88% of retirees noted their Social Security benefit represents either a "major" or "minor" source of income.Given the key role America's top retirement program plays in laying a financial foundation for America's aging workforce, it should come as no surprise that Social Security's cost-of-living adjustment (COLA) reveal, which is slated for Oct. 10 at 8:30 a.m. ET, is the most-awaited announcement of the year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool