Every year, the Social Security Administration (SSA) calculates the cost-of-living adjustment (COLA) to help beneficiaries keep up with inflation and maintain their purchasing power. This adjustment isn’t guaranteed annually, but it frequently occurs to ensure seniors and other pensioners can manage their costs. How COLA is Calculated COLA is based on data from the Consumer … 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
Everything seems to have changed for retirees when it comes to the 2025 Cost of Living Adjustment (COLA) projections. The volatile economy has left the Social Security Administration’s annual COLA more uncertain than ever. Earlier this year, predictions set the increase at 2.6%, but now it’s unclear if that number will hold or if it … Read more