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You've decided that 2025 is the year you're finally going to claim Social Security. The government bases your Social Security benefits on your income during your working years and your age at sign-up.
The maximum Social Security benefit can give you over $60,000 per year in retirement income. ... With the 2025 Social Security COLA now in effect, the maximum possible benefit for retirees has ...
Here's the schedule for when Social Security recipients will get their new 2025 COLA payments: Dec. 31: SSI beneficiaries will receive their new cost-of-living adjustment with this payment that ...
The general Social Security earnings-test limit in 2025 is $23,400 (up from $22,320 in 2024). You'll have $1 in Social Security withheld for every $2 you earn above that limit.
But Social Security benefits are designed to replace about 40% of a person's working income. Gen X, meanwhile, is also shaping up to hit retirement without enough saved for their golden years.
Effective January 2025, Social Security benefits will increase by 2.5%. That means the average Social Security recipient will get an extra $50 per month.
Image source: Getty Images. 1. The 2025 Social Security COLA. Social Security beneficiaries are getting a 2.5% cost-of-living adjustment, or COLA, starting with the payment they receive in January ...
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.