Millions of Americans depend on Social Security benefits for financial stability. Each year, the Cost-of-Living Adjustment (COLA) aims to help beneficiaries keep up with rising costs due to inflation. For 2025, a COLA increase is expected, which could impact average Social Security payments and more. Let’s dive into what COLA is, how it affects benefits, … Read more
Social Security plays a big role in supporting retirees, but did you know that the amount people get can vary based on where they live? In just a few hours, Social Security will announce the new cost-of-living adjustment (COLA) for retirees, which helps their payments keep up with rising prices. However, not everyone will get … Read more
The 2025 cost-of-living adjustment (COLA) for Social Security benefits has been set at 2.5%, marking the smallest percentage increase since 2021. With this adjustment, the average monthly benefit for a retired worker will rise by $49 to a total of $1,967. Social Security’s COLA is designed to protect beneficiaries’ purchasing power by ensuring that payouts … Read more