Social Security Cost-of-Living-Adjustment (COLA) 2025: There's Bad News Coming for Retirees
Millions of retirees depend on Social Security to make ends meet. Benefits are a major source of income for 60% of current retirees, according to a 2024 poll from Gallup, with an additional 28% of retirees relying on their benefits as a minor income source.
It's no surprise, then, that many retirees are eagerly awaiting the annual cost-of-living adjustment (COLA) announcement. The COLA is designed to help Social Security keep up with inflation, and beneficiaries can sometimes collect hundreds or even thousands more per year.
While some experts are already estimating the 2025 COLA based on recent inflation data (The Senior Citizen League currently projects a 2.63% COLA for next year), we won't know the official figure until the Social Security Administration makes its announcement in October.
Source Fool.com
