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4 most worrisome things for retirees on Social Security as COLA disappoints — and how to prepare for what’s ahead. ... In 2021, nearly 11.2 million adults ages 65 and up were cost-burdened, ...
Every year, the Social Security Administration, or SSA, examines inflation data and adjusts Social Security benefits accordingly. In short, the annual cost-of-living adjustment, or COLA, is ...
As of January, the average monthly retirement benefit for retired workers was just $1,979 -- only around $23,750 per year. If you boost that by 2.5%, it only becomes $2,028.48, or roughly $24,340 ...
The Social Security program has existed since 1935, but COLAs were not introduced until the mid-1970s. Back then, the adjustments were much larger than they are now. Between 1975 and 1982, COLAs ...
As expected, Social Security recipients will be getting a 3.2% cost-of-living adjustment (COLA) in 2024 -- the lowest COLA since 2021, and well below this year's 8.7% adjustment. The Social ...
By now, all seniors on Social Security should have gotten their first checks for 2025. With the latest 2.5% cost-of-living adjustment (COLA) in effect, the average benefit has climbed to $1,976 ...
Source: Social Security Administration. Chart by author. For some perspective, the average COLA since 1975 is 3.75%. The highest-ever COLA was 14.3% in 1980. In 2010, 2011, and 2016, there were no ...
The rate of inflation skyrocketed to 6.8% in 2021, its highest 12-month (ending November) increase since 1982, according to data from the U.S. Bureau of Labor Statistics. The Social Security...