Social Security Senior Finance News

"Projected 2025 Social Security COLA Increase Threatened by Inflation"

The cost-of-living adjustment (COLA) for Social Security in 2025 is forecast to be 1.75%, lower than previous years, leaving seniors struggling with increased living costs. Additionally, more Social Security recipients are paying taxes on their benefits due to income thresholds that have not been adjusted for inflation since 1984, resulting in a growing number of older taxpayers being affected by this tax.