COLA
What is the maximum taxable earnings limit?
The new year starts in 51 days; are you ready for the changes to Social Security? Of course, the cost-of-living adjustment (COLA) of 2.5 percent will boost the average Social Security check by $50 a month; however, there are more…
Social Security’s 2025 COLA, and a “World of Distress”
The 2.5% cost-of-living adjustment is a welcomed boost for Social Security beneficiaries; that’s a given. And the fact that this adjustment reflects a lessening of the inflationary pressures that have weighed on the economy for the past four years is…
Key Social Security Changes Set to Hit in January
The 2025 cost-of-living adjustment (COLA) announced last month is generally known at this point, but there are two additional key changes that folks need to keep in mind. For example, the annual limit on taxable earnings increases starting in January,…
Social Security Changes in 2025
Are you aware of the changes to Social Security for 2025? Maurie Backman for Moneywise explains everything from the COLA increase to the higher earnings requirement for credits. Read here.. Notice: The link provided above connects readers to the full content of…
The 2025 maximum Social Security benefit
The 2025 cost-of-living adjustment (COLA) of 2.5 percent will increase the average monthly benefit from $1,927 to $1,976 per month, a $49 increase, according to the Social Security Administration. However, the maximum Social Security benefit for 2025 will increase from…
COLA comes with bad news for retirees
The Social Security Administration announced on October 10th that the 2025 cost-of-living adjustment (COLA) will be 2.5 percent, which is lower than the 10-year average of 2.8 percent. Inflation has fallen; however, the prices of goods and services are still…
COLA Announced – Reactions Now Taking Center Stage
Yesterday’s official announcement of a 2.5% Social Security cost-of-living adjustment arrived as expected, along with the also-expected commentary on the inadequacy of the benefit increase. Calling the 2.5% bump a “lost opportunity,” The Senior Citizens League (TSCL) executive director Shannon…
COLA’s not Keeping Up with Increasing Costs
Since 2000, Social Security recipients have lost 36% of their buying power. Part of the reason is the way the COLA increases are calculated. The calculation is based on the spending habits of urban wage earners and clerical workers. Still,…
Cost of Living Adjustment to be Announced on October 10, 2024
After months of estimated projections, we will finally have a concrete amount for the benefits increase starting in December and showing up in January 2025 payments. That’s the”good” news. However, it’s essential to remember that an expected increase in Medicare…
A Look Ahead at the Future of Social Security COLAs
With the Federal Reserve’s progress toward reigning in the inflationary spiral of the past few years, coupled with its 2% long-term target for inflation, the 2025 cost-of-living adjustment is likely to be well below the average of the past three…