Social Security benefits can go a long way in retirement, and most beneficiaries look forward to getting a raise each year via the cost-of-living adjustment (COLA).

Each October, the Social Security Administration (SSA) announces the COLA for the upcoming year. The COLA for 2024 was 3.2%, meaning beneficiaries received a 3.2% boost in benefits starting in January. This adjustment aims to help Social Security keep up with inflation over time.

While we still have a few more months before the SSA officially announces, some experts are already forecasting where the 2025 COLA may land. Here are three things you need to know.

Continue reading

Source Fool.com