Is your Social Security Getting an Increase? July 2024 COLA Estimate Update

Learn how the Social Security COLA increase impacts retirees and why staying informed is crucial. Discover strategies to manage rising costs and maximize Social Security benefits effectively.

In today's update, understand the new Social Security cost-of-living adjustment (COLA) estimate for 2025 which is crucial for retirees including SSDI, SSI, seniors, VA, and low income, relying on these benefits amidst rising inflation. This adjustment helps match Social Security benefits to increased living costs like food, electricity, and healthcare. Understanding how COLA is calculated, based on the consumer price index for urban wage earners, is vital. The impact on budgets, especially for essentials and medical services, is significant. Knowing this helps manage finances better against economic shifts, ensuring seniors can handle expenses with their fixed incomes.

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Information is for educational and informational purposes only and is not be interpreted as tax, financial, or accounting advice. This does not represent a recommendation to buy, sell, or hold any security. Please consult your professional advisor.

[QuincyHouse-kvhe]

Why Congress Can't Send Us Seniors 120.00Food Stamp A Month WE Need Food Also HELP US PASS VOTE.AUGUST Next Month WE Need Help Before NOVEMBER.HUNGRY😢😢.

[choom-]

2.7% increase is what their talking about that works out to 26 whole dollars gee thanks feds smh

[raymondschwartz]

My rent just went up $100. That's on affordable housing. I'm on SSDI

[olruwwn]

The small raise they take back in Medicare payments

[dorothybermudez]

Inflation only decreases when necessities are not included in what the COLA is based on.

[QuincyHouse-kvhe]

7Month U Talking About 2025..Where the Help For 2024 Shame On Congress Help Help US Seniors And Vote To Help US.2Weeks It Will Be August And No HELP.HELP Nothing PASS WOW.😢😢

[dorothybermudez]

The people who determine this are all wealthy enough to not be discommoded by the price increases so they have no realistic view of the difficulties most of us have. Not that they care.

[veronicakolczynski]

Bs my food keeps going up rent goes up elictric water goes up.who u tryinh to kid.

[JamesHollinger-ltqx]

Does anyone one know what items THEY use to figure the inflation rate to establish the COLA increase.
Not as a group.
But each specific item
Is it just me
Or do you think each one should be listed. Year against year
With the history of each year made available

[solorzanoernesto-onfc]

Were still in 2024 and your talking about the next year

[cookiem]

But don’t we have time still into October come on people wow

[patrickodonnell]

Well the Forcast is BS inflation is rising it has not gone down not even alittle bit it has gone up 9.8% each quarter so that makes inflation is 39.2% so lets get real.