retiree finances

Social Security updates are always implemented annually in order to assist its 72 million beneficiaries adjust to economic and administrative realities. These changes could be a little confusing, especially for new system users, but even experienced recipients might be taken aback by some updates. For 2025, a few key updates are worth knowing, especially among retirees and disabled beneficiaries, which comprise a great majority of the recipients. COLA The cost-of-living adjustment (COLA) for 2025 will rise by only 2.5%. The inflation continues to cool after the jump it saw over the previous year, but this modest cost-of-living increase is a disappointment for many retirees, who are seeing so many other costs rising. This translates to an average increase of approximately $49 a month for retirement beneficiaries. Adjustments apply not only to retirement but also to disability, survivor, and family benefits for all … Read more