As we step into 2025, Social Security beneficiaries should familiarize themselves with upcoming changes to the program. Most adjustments are inflation-related, but they can significantly impact benefits, calculations, and income limits for those still working. Staying informed is essential for making the most of your benefits in the new year. COLA Every year, Social Security … Read more
Every year, the Cost-of-Living Adjustment (COLA) is applied to Social Security benefits, aiming to help recipients keep up with inflation. However, what many don’t realize is that COLA also impacts other government programs, such as the Supplemental Nutrition Assistance Program (SNAP). The 2025 COLA adjustment is set at 2.5%, but several issues remain with how … Read more
Every year, Social Security updates are rolled out to help its 72 million beneficiaries stay aligned with economic and administrative realities. These changes can seem a bit confusing, especially if you’re new to the system, but even experienced recipients might be surprised by some updates. For 2025, several key changes are worth noting, especially for … Read more
If you’re receiving Social Security Disability Insurance (SSDI), you might have questions about how long your payments will last and whether they’ll increase over time. Knowing how SSDI payments work, including cost-of-living adjustments (COLA), is essential for managing your finances and planning for the future. Payments SSDI payments can last a lifetime if you remain … Read more
Every year, seniors on Social Security get a cost-of-living adjustment, commonly known as COLA. These adjustments are an essential component of the program’s design because they need to maintain retirees’ buying power. Inflation drives up costs, and without corresponding increases in Social Security benefits, seniors on fixed incomes would find their purchasing power diminishing each … Read more
2023 was a peculiar year as the world gradually emerged from the pandemic, grappling with residual health and economic challenges. Amidst these issues, retirees received a significant cost-of-living adjustment (COLA) of 8.7%, the largest in four decades, to help offset inflation. However, the 2024 COLA saw a much smaller increase of 3.2%, more in line … Read more