Social Security's 2025 Cost-of-Living Adjustment (COLA) May Do Something It Hasn't Done Since 2021

The Senior Citizens League (TSCL), a nonprofit advocacy group, expects Social Security benefits to get a 2.6% cost-of-living adjustment (COLA) in 2025. That would mark the first time since 2021 that retirees have received a COLA under 3%. It could also be the first time since 2021 that Social Security benefits have lost buying power in two consecutive years.That is concerning because the 2024 Retirement Confidence Survey from the Employee Benefit Research Institute found that many retired workers are already struggling to make ends meet.Those statistics corroborate the idea that Social Security lost buying power this year. Indeed, TSCL says benefits have lost 20% of their buying power since 2010, which makes the possibility of another too-small COLA in 2025 especially troublesome. Read on to learn more.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool