Social Security Payments Are Increasing - COLA 2025

[@janedavis81]

We barely make 2000.00 for both of us and when we get a raise of pennies and part D of Medicare goes up and takes it all away. Then everyone else, i.e., utilities , water and power and our medicine all goes up and takes our raises plus. We are Waaaaaay below the national poverty level for years now. We are starving our seniors and disabled to death. 😢😢

[@johnCoy-u1w]

The 2.5% COLA for 2025 provides a modest increase in benefits for Americans receiving Social Security and SSI payments, helping to offset the rising cost of living and inflation. This increase offers essential financial relief for vulnerable populations like retirees.

[@Nancy-1w]

The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings to fall back on.

[@MoniqueJ-g2s]

It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

[@Neil-l7v]

I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.

[@duanec.sutherland5292]

This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?

[@Neil-l7v]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Lorrie Greta Hillard for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@rollandalewis3447]

You know we already got letters from SSI and Social Security so we already know what our cola amounts are this is late. We already know and it’s little pennies and dimes like it always is no different no change nothing big so thank you.😢

[@Andrew-Paulo]

Hopefully you can find a way to supplement your income!

[@jackpetersen4835]

And Medicare will go up 75 per month

[@Andrew-Paulo]

Home harmless provision should keep the Medicare increase at or below your COLA increase?

[@joanlong4183]

I get about $1070 a month.

[@jerryfry4189]

I get 39.00 more, won't even buy a tank of gas.

[@lovespurpleflowers]

Folks, Andrew does not know what is coming very soon but I believe everyone on SS, is going to be pleased! Andrew, start doing deeper dives and you may actually get a bigger following on YT❓‼️P.S. The younger crowd will also be delighted!

[@marymasiakowski5042]

My COLA is giving me $26 a month starting January 2025. I'm on disability. My food share is going down $15 in January 2025. My OTC is going down $5 starting January 2025 I'll be pocketing a whopping $6 a month of my COLA. I'm not even getting by. My SSDI will be $1,081 a month. My rent is $695 a month, and my WE Energies bill is $84 a month. There's not a lot left for other bills AND food

[@maschataylor6939]

Less than that after 40 yrs of working

[@jiffyyoyo6253]

Social Security benefits will increase by 2.5 % in January 2025 due to the rise in the cost of living.

[@hiltonlouque1504]

2.5% does nothing

[@shvsing-tb9ym]

Talk about substantial increase or don’t talk at all!

[@donnamcclenton7340]

I’m sick of people complaining if you had low wages what do you expect?SSi is a need based program I’m on SSDI and I’m not on welfare do I get a 1500 check ? And a little more and I have saved my first $1000 emergency fund, now as far as the cola as long as my premiums are paid that’s all I’m concerned about and I’m Not full retirement age…. It’s all about living within your benefit amount..the SSDI average is about 1500 but depending on the wage earner it can fall just around 1600 a month or a tad bit higher I won’t put my income on a platform but I get more then 1500 as a survivor after Medicare is deducted because I am a disabled survivor under a parent from birth and my father had a decent job..and I been disabled all my life and I been on SSDI since 2000 and I pay Medicare .. I have a issue with that I been on Medicare 24 years I’m Only 59.. survivors shouldn’t be forced on Medicare before retirement age.. I don’t even qualify for Medicaid or snap benefits my rent, water and trash a month is about 950.00 I don’t understand how SSi can afford cars I can’t I ride a city bus..