Preparing for 2025: Navigating Social Security Changes and Inflation Challenges

With Social Security's cost-of-living adjustment (COLA) for 2025 set at 2.5%, many retirees find it insufficient to combat rising costs. To address inflation, the author plans to invest in dividend-growing stocks like Coca-Cola and Procter & Gamble, reduce portfolio volatility by avoiding growth stocks, create a detailed budget to eliminate unnecessary expenses, and consider converting a traditional IRA to a Roth IRA to manage tax liabilities. These strategies aim to provide a more stable financial future in retirement.