Are Seniors in Line for a Bigger or Smaller Social Security Raise in 2025? Here's What the Experts Think.
Retirees don't get the same monthly Social Security check forever. If they did, they would lose a lot of their buying power as prices for goods and services rise over time. To ensure seniors get extra money to cope with those rising costs, periodic cost-of-living adjustments (COLAs) are built into the program.
In 2024, for example, Social Security recipients received a 3.2% benefits increase. This was down from the 8.7% raise the year prior but still pretty high relative to raises in recent years.
Retirees are likely to get another raise in 2025. And if you're a senior, you may be wondering how much extra money you'll get. The experts have a prediction, which can help you to understand what's coming in the new year.
Source Fool.com
