Social Security is a lifeline for millions of older adults, especially as it becomes more difficult to save. With costs continuing to rise and many retirees struggling with a cost-of-living crisis, these monthly checks can go a long way.

Many retirees look forward to the annual cost-of-living adjustment (COLA) from the Social Security Administration (SSA) because it usually means an increase in benefits.

The SSA won't make its official announcement until October, but there are already forecasts for what the COLA might look like for 2025 based on the data so far this year. Here's the good news and bad news about how big the raise might be.

Continue reading

Source Fool.com