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The Social Security Administration announced recently that seniors will get a 2.5% benefits increase for the 2025 year. That amounts to around $49 more in monthly benefits for the average retiree.
That knowledge gap could be problematic for anyone nearing retirement because most seniors depend on Social Security to some degree. In fact, monthly benefits are often the largest source of ...
Image source: Getty Images. 1. Social Security benefits are rising by 2.5%. Each year, Social Security benefits are eligible for an automatic cost-of-living adjustment, or COLA.
In 2024, for example, seniors saw their Social Security checks increase by 3.2%, and the year prior, they saw a whopping 8.7% increase. In 2022, their checks also went up by a significant amount ...
For the average worker with disabilities, their Social Security benefit is projected to rise by $38 per month, from $1,542 to end 2024 to $1,580 to begin the new year.
According to the most recent data released by the Social Security Administration in December 2023, the average benefit among 62-year-old retired workers is just $1,298 per month.
Here are the Social Security raises seniors have received over the past couple of years: January 2022 -- 5.9%. ... Once you learn how to maximize your Social Security benefits, we think you could ...
Social Security benefits will likely play an important part in your retirement income. After all, nearly nine out of 10 people aged 65 and older were receiving benefits as of June 30, 2023.
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