Social Security's 2025 Cost-of-Living Adjustment (COLA) Is Taking Shape as Yet Another Lose-Lose Scenario
For a majority of retirees, Social Security income is a financial foundation they'd struggle to live without.
In 2022, 22.7 million people were pulled above the federal poverty line by this critical program, including 16.5 million adults aged 65 and over, according to an analysis from the Center on Budget and Policy Priorities. If Social Security didn't exist, the senior poverty rate would be almost four times higher -- an estimated 38.7%, versus the current 10.2%.
Considering how many retirees lean on Social Security to help cover at least some portion of their expenses as they age, it should come as no surprise that the annual cost-of-living adjustment (COLA) reveal -- which is slated for 8:30 a.m. ET, on Oct. 10 -- is the most anticipated of all announcements.
Source Fool.com
