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Aim to be less reliant on Social Security COLAs
The official 2025 COLA will be released by the Social Security Administration (SSA) in mid-October 2024, usually around October 15th. However, the announcement may not be what seniors are hoping for. Why? Experts estimate a lower COLA than the previous couple of years, which means that seniors living on Social Security may only see a marginal increase in their monthly income. So, how can pre-retirees prepare for low COLAs? Maurie Backman outlines ways pre-retirees can aim to rely less on Social Security COLAs. Read Ms. Backman’s article here…
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