With 2024 Half Over, Retirees Need to Plan Now for a 2025 COLA Disappointment
With July getting under way, 2024 is half over -- hard as it may be to believe. The new year will be here before most people know it, so it's time for seniors to start looking ahead financially to prepare for what life may look like in 2025. This is especially important because retirees -- especially those who have left the workforce in the post-pandemic era -- could be in for an unpleasant surprise next year.
Seniors could find themselves facing a big disappointment when it comes to the cost-of-living adjustment (COLA) they receive if they are collecting Social Security benefits. Many retirees rely on these COLAs to help them cover rising costs, and they are likely to be pretty unhappy when they see what happens to their retirement benefits in 2025.
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Source Fool.com
