The 2025 Social Security COLA Is a Double-Edged Sword for Retirees. Here's What You Should Know
Inflation is particularly noticeable for people on fixed incomes, like many who receive Social Security. To help offset this, Social Security applies a COLA. For 2025, the COLA will be 2.5%, and while I'm sure retirees appreciate any increase in benefits, many aren't jumping for joy at the amount.
Crunching the numbers: Social Security COLA for 2025
Yet here’s the rub: Many economists and social planners believe Social Security COLAs are too generous! (I have explained why in past columns, but don’t have the space to get into that argument today.) That’s why most discussions of long-range reform for Social Security include proposals to reduce cost-of-living increases.
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Most retirees will soon discover that Social Security's fourth consecutive above-average COLA comes at a hefty price.
Your future Social Security benefit increases could be affected by which candidate wins the upcoming presidential election.
The Social Security Administration set its 2025 cost-of-living adjustment at 2.5%, the smallest annual COLA hike since 2021. Although inflation has eased from its pandemic-era heights, some ...
Your Social Security benefits aren’t likely to cover all of your expenses in retirement, but a cost-of-living adjustment (COLA) can help offset some of the pain associated with inflation.
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