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You've decided that 2025 is the year you're finally going to claim Social Security. The government bases your Social Security benefits on your income during your working years and your age at sign-up.
The Social Security Administration is probably best known for overseeing the federal government's retirement benefits program, but the agency also pays billions of dollars a year in benefits to...
Image source: Getty Images. 1. The cost-of-living adjustment. Seniors get a bump in their Social Security benefit every year called the cost-of-living adjustment ().The 2025 COLA of 2.5% was ...
3. What you need to apply. You can speed up your Social Security application by making sure you have all the necessary information and documents ready in advance. These include: Your Social ...
As for timing your Social Security benefits: This topic was addressed in a Dec. 4 Forbes column written by Jerry Patterson, president of Fidelity Investments Life Insurance Company. He found that ...
Applying for Social Security benefits can actually be a relatively simple process. But if you want to get your benefits at a specific time, you’ll have to plan ahead, since the lead time can be ...
Image source: Getty Images. 1. Social Security benefits are rising by 2.5%. Each year, Social Security benefits are eligible for an automatic cost-of-living adjustment, or COLA.
Data source: Social Security Administration. Chart by author. Here's the maximum possible 2025 Social Security benefit at 62, 67, and 70. Earning a high salary throughout your career is just one ...