The Biden administration appears to have pulled off the elusive economic soft landing, getting inflation in check without crashing the economy into a recession. While inflation has been easing downward, it has still been pinching retirees’ budgets. The bad news is that shrinking inflation rates also mean a smaller Social Security cost-of-living (COLA) for 2025.
The 2025 Social Security cost-of-living adjustment will kick in via your January check (or direct deposit from SS). So, current Social Security recipients will continue to see their retirement incomes stretched thin this month as we move through the holidays.
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