54% of Retirees View the 2025 Social Security COLA as Insufficient. Here's How to Ensure a Wealthy Retirement.

In order to ensure that benefits keep up with inflation, the Social Security Administration (SSA) typically makes a cost of living adjustment (COLA) each year. For 2025, the SSA has delivered a 2.5% COLA -- and the benefit increase appears to be getting mixed reviews from retirees.In a survey of 2,000 retirees conducted by The Motley Fool, 54% of the respondents said that the new COLA for this year wasn't enough. Breaking the results of the survey down a bit further, 30% think that this year's COLA is completely insufficient, and 24% think that it's somewhat insufficient.Even if future COLAs come in higher than this year's level, stretching your Social Security benefits to cover costs in retirement can be difficult. The good news is that there are steps you can take to minimize your reliance on Social Security and set yourself up for wealth in your golden years.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool