Reported 4 months ago
The article discusses the forecast for Social Security's 2025 Cost of Living Adjustment (COLA), which has slightly improved to an estimated 2.66% based on recent inflation data. This estimate, provided by the Senior Citizens League, has increased from earlier projections of 1.75% to 2.6%. The article emphasizes the importance of not solely relying on Social Security for retirement income and suggests exploring additional income sources or building savings to supplement potential COLA increases. It also highlights that even with higher COLAs, they may not adequately cover beneficiaries' expenses.
Source: YAHOO