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The 2025 COLA is not as bad as it seems
Few people are getting giddy about receiving a 2.5% cost of living increase (COLA) for the upcoming year. But as Maurie Backman explains, it is indeed a sign of cooling inflation. Prices are increasing much more slowly, and that is beneficial to those on fixed incomes. Also, the increase is close to the average of 2.75% over the last 10 years. Lastly, one should not be relying on Social Security alone, as that was never its intent when the system was enacted. A realistic assessment of what the program does and does not do is essential. Full article here.