Social Security benefits get a yearly cost-of-living adjustment (COLA).
Social Security benefits get a yearly cost-of-living adjustment (COLA). This helps keep up with inflation. Yet in recent years, the COLAs have been far smaller than has been expected by some cash-strapped seniors, given the skyrocketing cost of everything from food to housing. Yet there is a way investors can supplement their incomes without relying on Social Security. Go here to find out more. The 2025 COLA isn't official yet. Yet the Senior Citizens League estimates the COLA this year would be a modest 2.63% increase. In January 2024, COLA payments increased by only 3.2%. These meager increases hit retirees particularly hard. They mean that people living on fixed incomes may not be able to keep pace with inflation, making everyday items too expensive for some people. In general, rising costs can have a disproportionate impact on retirees. Medical expenses often increase with age, straining limited budgets. Some face a reduced quality of life, with less money for leisure activities or travel. That’s why some older investors worried about the future are taking a close look at a new solution that could bolster their retirement finances. It’s a way to create a regular retirement income even if people have ZERO saved. Workers have gone from no savings to a regular income of up to $3,900 a month. And to top it off, every single penny drawn from this emergency retirement plan is 100% tax-free – and approved by the IRS. Click here to find out more. Sincerely,
