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!