Social Security COLA 2025 Prediction August 2024 Update
Social Security COLA 2025 Prediction August 2024 Update
What is the Social Security COLA 2025 prediction? We discuss the Senior Citizens League’s latest 2025 Social Security COLA increase prediction - August 2024. #socialsecurity #socialsecuritycola #socialsecurityincrease #socialsecuritycolaprediction
00:00 Introduction
00:22 COLA 2025 Predictions
00:39 Senior Citizens League Monthly 2025 COLA Predictions
01:16 2024 Social Security COLA Average Monthly Benefit
01:36 Latest 2025 COLA Prediction
What is the Social Security COLA 2025 prediction? We discuss the Senior Citizens League’s latest 2025 Social Security COLA increase prediction - August 2024. #socialsecurity #socialsecuritycola #socialsecurityincrease #socialsecuritycolaprediction
00:00 Introduction
00:22 COLA 2025 Predictions
00:39 Senior Citizens League Monthly 2025 COLA Predictions
01:16 2024 Social Security COLA Average Monthly Benefit
01:36 Latest 2025 COLA Prediction
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FunTranscript
00:00In this video, we'll discuss August's prediction for the 2025 Social Security Cost of Living Adjustment.
00:07Stay tuned. You won't want to miss this.
00:09Hi, I'm Renee Van Stabren.
00:16I work with hundreds of Medicare agents across the nation, and I lead Medicare education at Connie Health.
00:222024's COLA is 3.2%. Can we expect the 2025 COLA to match that?
00:28The Senior Citizens League releases its estimates every month leading up to the official COLA announcement,
00:36which usually happens the second week of October every year.
00:39So far, the Senior Citizens League has estimated the 2025 COLA to be at 1.7% in January,
00:482.6% in March, 2.66% in April, 2.5% in May,
00:542.63% in June, and back to 2.57% in July.
01:00Each of these estimates is based on the Consumer Price Index, or the CPI-W.
01:05In 2024, the COLA is 3.2%.
01:10So the 2025 COLA is definitely looking like it's going to be a decline in benefits.
01:16In 2024, the average benefit rose about $50 per month.
01:21After subtracting the $9.80 for the Medicare Part B premium increase,
01:27most people receiving Social Security retirement benefits had an increase of about $40.20 per month.
01:36It seems that the predictions for the 2025 COLA have been fluctuating around 2.5% to 2.6% for the last several months.
01:45But there are a couple more months left, and we could see that fluctuate further.
01:49In this video, we shared the Senior Citizens League's Social Security 2025 COLA prediction.
01:55We'll continue to track the 2025 COLA and share an update with you every month between now and October.
02:02If you liked this video, hit the like button.
02:04And if you want more videos like this and to follow our COLA predictions, subscribe to our channel.
02:09Until next time!