The Average Social Security Benefit Today Is Smaller Than You Think. Here's How to Boost Yours in Time for Retirement
Millions of older Americans today receive a monthly benefit from Social Security. And for many of them, that benefit is their only source of income. It might therefore surprise you to learn that as of October 2024,
Next year's 2.5% Social Security COLA isn't so bad when you consider this
But when we look back at the data, it becomes clear that a 2.5% Social Security COLA isn't so terrible. In fact, it's a lot more generous than some of the COLAs beneficiaries have seen in the past. In 2024, Social Security benefits rose by 3.2%. The year prior, they increased by 8.7%. And in 2022, a 5.9% COLA came through.
Here's what changes are coming to Social Security in 2025
Social Security beneficiaries will soon experience a welcome change when benefits climb due to a cost-of-living adjustment.
Social Security 2025: Here's Are the Good (and Bad) Changes Retirees Can Expect
The first piece of good news is that beneficiaries will see a 2.5% bump in benefits beginning in January, thanks to the cost-of-living adjustment (COLA). The average retiree collects just over $1,900 per month in benefits, which amounts to a raise of roughly $50 per month.
Liz Weston: How does Social Security calculate estimates of future benefit amount?
A while back, you responded to a letter writer that Social Security’s estimates of the amount a person will receive assumes the person will continue working until they apply for benefits. I thought the amount a person receives was based on the average of the highest 30 years’ of earnings over a person’s entire career.
Social Security Approaches Its Day of Reckoning
Social Security is very popular with Americans. Large majorities of Democrats and Republican like the program and want it to continue with no cuts in benefits, no increase in costs to taxpayers, and no real reforms of any kind.
Here's the Maximum Possible 2025 Social Security Benefit at 62, 67, and 70
Even if you're in line for the maximum possible benefit, you might be surprised at how much more you can get by waiting.
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Social security recipients will see an increase in 2025 — and an extra check in November
While millions of retired Americans will soon see a 2.5% cost of living increase in their Social Security payments, ...
Social Security Update: Checks of up to $4,873 To Be Paid Out This Week
The Social Security Administration (SSA) distributes benefits each month to retired Americans, people with disabilities, and surviving family members of deceased workers. With multiple types of ...
Social Security's Silver Lining Has Been Ripped Away for a Second Consecutive Year
How is Social Security's COLA calculated? Social Security's COLA is the tool the Social Security Administration (SSA) relies ...
The Social Security Fairness Act is now in the hands of the Senate. Here's what could happen next.
The Social Security Fairness Act, which would increase benefits for 2.8 million retirees, has bipartisan support but time ...
What Will Happen to Social Security After Trump Takes Office?
Readers are concerned that his campaign proposals would put Social Security’s finances on thinner ice, endangering their ...
Social Security update: December direct payment worth $943 goes out in 11 days
The Supplemental Security Income payment for the month of December, worth up to $943, goes out to millions of beneficiaries in 11 days. The next SSI payments are scheduled to be distributed on Friday, ...
What Every 40-Year-Old Should Know About Social Security
Your Social Security statement estimates your future retirement benefits based on current earnings. Working over 35 years and ...
This Big Social Security Change Proposed by President-Elect Donald Trump, and the Harsh Truth That Makes It Unlikely
In 1984, the federal government began taxing Social Security benefits for individuals whose income exceeded a certain ...