COLA
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…
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…