The Social Security Administration announced that the cost of living adjustment (COLA) for 2025 will only be 2.5%, the lowest since 2021. This modest increase could significantly impact middle-class Americans who rely heavily on Social Security for their income. The 2.5% adjustment translates to around $50 extra per month, which may not adequately cover rising costs of necessities like groceries, highlighting the need for retirees to explore supplemental income sources as inflation remains a concern.
Lee Jackson expressed concern over the low COLA adjustment, stating, 'The increase is only 2.5%, and that’s the lowest since 2021. This will not help many retirees who depend on Social Security as a primary income source. For someone relying heavily on this, it presents a significant challenge, as $50 a month will hardly keep pace with rising prices, especially for essentials, raising questions about the reliability of government inflation statistics.'
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