COLA
Social Security’s Reduced COLA outlook–Thoughts on the “Pro” Side
Most people know that the annual cost-of-living adjustment (COLA) applied to benefits in January has been higher than the program’s historical increase for the past three years, averaging just under 6%. Most people also know that projections for the 2025…
A working estimate of next year’s COLA
Do you know how the Social Security Administration calculates the annual cost-of-living adjustment? The simplistic version: Based on changes to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the third quarter of the year, from…
Do you know what COLA means to retirees?
Although the official annual Social Security cost-of-living adjustment, or COLA, will not be announced until October 10th, the news media is buzzing with estimates on the percentage of the increase. But what does COLA mean to retirees? Adam Levy outlines…
Good News and Bad News concerning latest COLA update
The Cost of Living Adjustment for 2025 is a hot topic right now. Ahead of the actual announcement of the COLA increase percentage, there are many perspectives, thoughts and analysis of what that percentage may be. The latest update predicts…
Another COLA Prediction
Although the actual COLA percentage won’t be officially announced until mid October, predictions continue to come forth. These have varied a bit recently, but seem to be settling down to around 2.6%. We will see what it is in mid…
What can you do Now to Offset a Potentially Low COLA Increase?
With the COLA projected to be about 2.57%, which is lower than the 3.2% this year, here are some ways you can save money: create a budget, shop smarter, review your insurance needs, move to a cheaper state or downsize…
A Different COLA Perspective
The latest estimate projects a COLA increase of 2.57% in 2025, which is lower than it was in 2024. Of course, this is still an estimate and the actual number will be released in October. A smaller percentage could be…
“Fixing” Social Security–A quick recap of some of the ideas being advanced
Money.com’s Pete Grieve, in a post on nasdaq.com, provides a quick summary of five of the ideas currently circulating among various proposals to address Social Security’s looming insolvency problem. As Grieve points out, public sentiment for resolving the matter “sooner…
Another Scary Headline!
Reflecting on the “Latest News” article posted here Tuesday, we find another headline likely to cause concern among seniors until they read it. The article is titled “Seniors Losing Nearly $400 Each Month in Social Security: Report” and outlines a…
Too Much Dependence on Social Security Could be a Problem
A post by The Motley Fool’s Katie Brockman highlights the results of a recent Gallup poll in which 60% of those surveyed indicate that their Social Security benefits are a major source of their retirement income. Further, nearly 905 of…