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Key Social Security Updates for 2025 You Need to Know

share-iconWednesday, January 08 comment-icon2 weeks ago 11 views
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usatodayUSATODAY
Key Social Security Updates for 2025 You Need to Know

Credited from: USATODAY

  • Social Security benefits will increase by 2.5% in 2025 due to the annual cost-of-living adjustment (COLA), averaging an extra $50 per month.
  • Earnings limits are raising, allowing recipients who work to earn up to $62,160 before their benefits are reduced. Those over full retirement age will not face this limit.
  • High earners will have a higher taxable income cap for Social Security taxes, increasing from $168,600 in 2024 to $176,100 in 2025.
  • The smaller COLA increase reflects cooling inflation, with many retirees indicating it may not sufficiently cover rising costs.
  • Planning ahead for these adjustments will be essential to ensure financial stability in 2025, regardless of retirement status.

For more details, visit the original article here.

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Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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