Social Security's cost-of-living adjustment (COLA) for 2025 will be announced this month. It will have far-reaching implications for the more than 65 million Americans who receive benefits.

Today's wealthiest Social Security beneficiaries rake in a whopping $4,873 per month. That's more than $58,000 per year, and they'll get even more in 2025. These seniors will get the same cost-of-living adjustment (COLA) as everyone else starting in January.

At the current trajectory, retirees could see their benefits cut by 21% in roughly a decade if Congress doesn’t take action. If that happens, a couple retiring in 25 years could lose a combined $908,482 in lifetime Social Security benefits, HealthView Services found.

A cost-of-living boost in veterans benefits next year is expected to equal what Social Security beneficiaries receive. () Congress on Wednesday finalized plans to guarantee a cost-of-living boost in veterans benefits next year equal to what Social Security beneficiaries will receive.

The Social Security Administration will announce the 2025 cost-of-living adjustment (COLA) on Oct. 10, 2024. Until then, you can only make your best guess as to what it's going to be. The existing data suggests the COLA will be lower than what program recipients have seen in recent years.