All Social Security Retirees Should Do This By Nov. 20

The Social Security program has many rules and can be complex, and there are certain dates retirees should mark on their calendars. For instance, retirees know that they will receive their monthly benefits on a Wednesday, depending on when their birthday is, and that the annual cost-of-living-adjustment (COLA) usually comes out in early to mid-October.Now, with the year winding down, all Social Security retirees should mark Nov. 20 as another date to remember. Here's why.In October, the Social Security Administration (SSA) announced the COLA for 2025. Each year, benefits are increased to help maintain purchasing power with inflation. Inflation has soared recently, so retirees have experienced some nice benefit hikes. Inflation finally slowed this year, which is bad for COLAs but does slow the rise in consumer prices, ideally making the cost of living more manageable.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool