Social Security's Silver Lining Has Been Ripped Away for a Second Consecutive Year

For the more than 68 million people currently receiving a Social Security benefit, there's no announcement more important than the cost-of-living adjustment (COLA) reveal during the second week of October.Since 2002, national pollster Gallup has been conducting annual surveys to decipher how reliant retirees are on the income they receive from this top social program. Without fail, 80% to 90% of respondents, including 88% in April 2024, have stated that their Social Security check was a "major" or "minor" income source, and therefore necessary to make ends meet.While Social Security's 2025 COLA announcement offers superficial promise, the lack of a treasured silver lining will quickly take the luster off another above-average "raise" for beneficiaries.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool