Social Security continues to be a lifeline for millions of Americans, particularly retirees. The 2025 cost-of-living adjustment (COLA) raised the average monthly benefit by $49, increasing payments from $1,927 to $1,976. While this is helpful, many beneficiaries, especially those with limited personal savings, feel the increase falls short of covering rising expenses. To address broader … Read more
The Social Security Administration (SSA) has announced a cost-of-living adjustment (COLA) for 2025, and while most Social Security beneficiaries will see their increases reflected in 2025, Supplemental Security Income (SSI) recipients will experience their adjustments earlier—in December 2024. This may seem like a small timing detail, but it has significant implications for millions of recipients. … Read more
About 7.5 million Americans receiving Supplemental Security Income (SSI) are eager to learn when the 2025 cost-of-living adjustment (COLA) will affect their payments. The 2.5% COLA boost will raise individual benefits from $943 to $967 in late 2024. Here’s a detailed breakdown of the changes and how they will impact payments. Payments Typically, SSI payments … Read more