Social Security’s 2025 Cost-of-Living Adjustment Looks Bad
30th July 2024
For millions of Americans, Social Security is an essential lifeline during retirement. The annual cost-of-living (COLA) is designed to help beneficiaries escape the effects of inflation by providing an annual increase that matches inflation. However, this theory doesn’t always work out well in practice.
The prospects of the 2025 COLA have cast a long shadow and become a matter of debate. Soaring inflation has caused the downsides of the COLA system to be felt more dramatically. As inflation soars, more and more seniors are finding that COLA isn’t enough.
Social Security’s projected 2025 cost-of-living adjustment (COLA) falls short of addressing the escalating financial burdens faced by retirees, potentially exacerbating economic hardship for millions of Americans.