Seniors Are Now on Track for a Higher Social Security Raise in 2025. Here's Why That's Bad News.
In most years, Social Security recipients get a cost-of-living adjustment (COLA) to help protect their buying power. Prices of goods and services go up over time, and if benefits didn't, seniors would be able to buy less each year with their retirement checks.
Recently, the Senior Citizens League (SCL), an advocacy group, revised its estimates of how much the COLA will be in 2025 and now predicts it will be larger than it originally projected.
A bigger raise might seem like great news, but the reality is that this is an unwelcome development because retirees could end up worse off in 2025. Here's why.
Source Fool.com
