There's a Big Problem With Social Security's
2025 Cost-of-Living Adjustment (COLA)
The Motley Fool, by Sean Williams
Posted By: crashnburn, 10/19/2024 11:23:10 PM
For Social Security's more than 68 million beneficiaries, nothing loomed larger last week than the annual reveal of the program's cost-of-living adjustment (COLA). Based on 23 years of annual surveys from Gallup, 80% to 90% of retirees (including 88% in 2024) have consistently pointed to their Social Security income as being necessary to make ends meet. For a majority of retired-worker beneficiaries, knowing how much they'll be receiving each month in the upcoming year is critical information. While Social Security's 2025 COLA marks the fourth consecutive year of an above-average payout, it also comes with a sizable, and unavoidable, problem.
and least we forget they still tax SS earnings 85% of it thanks to yes you got it Joe fukin Biden who pushed that when he was in congress...FJB
They give you a 2.5% COLA, then raise the Medicare premium to $185. Then if you have a retirement plan, investments & savings they tax those. Did I miss anything? 😮🤨😖
funny they give us 2.5 % then announce that inflation is up over 3% the cola if figured on the third quarter of the year.....but you got it......and the medicare increase is about 8%