Social Security's 2025 Cost-of-Living Adjustment (COLA) Offers Both Promise and Peril

The big day is right around the corner. On Thursday, Oct. 10, the Social Security Administration (SSA) will announce the highly anticipated cost-of-living adjustment (COLA) for 2025.For most aging Americans, Social Security income is a necessity to make ends meet. The program is responsible for pulling 22.7 million people above the federal poverty line each year, including 16.5 million adults aged 65 and over, based on a study by the Center on Budget and Policy Priorities.Furthermore, 23 years of annual polling by Gallup have shown that 80% to 90% of retirees lean on their Social Security check, to some degree, to cover their expenses.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool