Reported about 6 hours ago
The Social Security Administration announced a 2.5% cost-of-living adjustment (COLA) for 2025, a decrease from 3.2% this year, which will add about $50 to the average monthly benefit of $1,900. This increase aims to aid over 72 million retirees and disabled workers facing rising living costs, though many still struggle with essentials. Experts emphasize the importance of this adjustment amidst ongoing inflation pressures, particularly affecting seniors who have unique spending patterns compared to younger adults.
Source: YAHOO