This Factor Could Impact Your 2025 Social Security COLA More Than Inflation

Although plenty of seniors manage their expenses just fine without having to wait for their next Social Security check to arrive, many retirees rely heavily on those monthly benefits. Because of this, it's natural for retirees to want updates on their annual cost-of-living adjustments, or COLAs.The purpose of COLAs is to help ensure that Social Security recipients don't lose buying power from year to year as inflation drives living costs upward. Imagine if you were to start out collecting a monthly benefit of $1,900 this year without that number ever increasing. Clearly, you'd struggle to keep up with rising bills. Thankfully, COLAs are designed to help prevent that (whether they actually do the job well is another story).Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel