Social Security COLA Estimate Drop: Impact on Benefits & Retirement | June 2024 Update

Learn about the 2025 Social Security COLA estimate drop and its impact on your benefits. Discover how it affects your retirement income and what you can do to manage your finances.
In today's update, learn about the 2025 Social Security COLA, why it’s projected to drop, and how it affects your benefits for retirement and SSI (Supplemental Security Income), SSDI (Social Security Disability Insurance), survivors, and spousal benefits. Understand the impact of COLA on your retirement income, why it often doesn’t keep up with inflation, and the long-term financial implications. Find out how rising living costs, like food and housing, impact seniors and what steps you can take to manage your budget better. Get insights into the importance of accurate COLA adjustments and how to stay informed and prepared for financial changes in 2024 and beyond.
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[@119jle]

I paid into social security 42 years and bring in $1800. My neighbor never paid in more than 14 years min wage jobs. Claims disabled and gets $3400 month. BS

[@QuincyHouse-kv9he]

SO SAD FOR US Seniors HELP HELP US.😢😢😢 PASS The MONEY Bill.

[@foxslayer321]

Get serious it's a election year Remember that

[@Wistundra]

Your calculation is wrong ! Social Security only covers a much smaller percentage of your prior take home pay to begin with ! Second, S.S. inflation calculations on the way the government figures it which is a lie ! Even if you are living on S.S. the purchasing power continues to erode over time. One other thing, Medicare premiums keep going up ! Subtract that from your monthly benefit and then see just how much of an increase the inflation adjustment gives you !