Upcoming 2025 Changes to Social Security What You

Published: Aug 28, 2024 Duration: 00:02:22 Category: News & Politics

Trending searches: 2025 social security cola increase
upcoming 2025 changes to Social Security what you need to know welcome back to our Channel where we dive into important Financial updates today we're focusing on the changes slated for Social Security in 2025 that could affect millions of Americans whether you're a retiree or still in the workforce you'll want to pay close attention first up let's talk about the anticipated cost of living adjustment or Cola for 2025 while we won't have the final number until October early indications suggest a smaller increase than in previous years projected at about 2.57% this is due to the easing inflation which while it reduces the rate of increase in living costs doesn't necessarily lower existing prices on Essentials like groceries and housing next the full retirement age is creeping up again by 2025 it's set to increase to 66 years and 10 months for those born in 1959 this gradual change impacts when you can receive full benefits and penalizes early retirement so if you're planning to retire soon consider how this could affect your financial landscape and here's a big one for current workers changes in how much you need to earn for social security credits and the wage cap for Social Security taxes in 2025 you'll need to earn more than in previous years to qualify for the maximum four credits per year and if you're a high earner expect to pay taxes on a higher portion of your income as the wage cap is also set to increase these changes are crucial for everyone to understand not just retirees accumulating enough social security credits is essential for future benefits and knowing how much of your wages will be taxed can help you plan better financially that's it for today what are your thoughts on these upcoming Chang are you prepared or do you have concerns about how they might impact you let us know in the comments below we love hearing from you also if you found this video helpful please like subscribe and hit the notification Bell for more updates like this stay informed and take control of your financial future thanks for watching and see you in the next video

Share your thoughts

Related Transcripts

Prepare for Change: Social Security COLA Benefits Expected to Decrease in 2025, Says New Estimate thumbnail
Prepare for Change: Social Security COLA Benefits Expected to Decrease in 2025, Says New Estimate

Category: Education

In light of the projected decrease it is beneficial to revisit and possibly revise retirement strategies this might include reassessing investment portfolios to ensure they align with long-term financial goals especially if social security benefits are expected to contribute less to overall income for... Read more

CNN's Anderson Cooper challenges Kamala Harris on Biden's debate performance thumbnail
CNN's Anderson Cooper challenges Kamala Harris on Biden's debate performance

Category: News & Politics

Others around the country some within your own party are wondering if president biden should even step aside. all right. what do you say to that listen first of all, what we saw tonight is the president making a very clear contrast with donald trump on all of the issues that matter to the american... Read more

ALARMING! Why Bill Gates Is Releasing Flying Vaccine Mosquitos Everywhere thumbnail
ALARMING! Why Bill Gates Is Releasing Flying Vaccine Mosquitos Everywhere

Category: Education

The epa recently approved an experimental use permit to oxitec a biotech company funded by the bill and melinda gates foundation in an effort to fight malaria oxitec will soon release millions of genetically modified mosquitoes in various us states according to the niih website programs are being developed... Read more

Social Security COLA for 2025: Modest Increase Expected thumbnail
Social Security COLA for 2025: Modest Increase Expected

Category: Entertainment

In a recent update the july consumer price index that is cpi has provided an early glimpse into what social security beneficiaries might expect for their cost of living adjustment that is cola in 2025 the cpi for urban wage earners and clerical workers that is cpw a ke inflation gauge showed a 2.9%... Read more

Jake Tapper Cries ‘Antisemitism’ To Justify Dana Bash’s Dehumanization of Palestinians thumbnail
Jake Tapper Cries ‘Antisemitism’ To Justify Dana Bash’s Dehumanization of Palestinians

Category: News & Politics

Look at what happened to danab bash l about the palestinian people she l calling out danab bash's bias coverage danab bash's colleague at cnn jake tapper said protesters target dana because she's jewish there is nothing about her coverage of the israel hamas war that is different from most other news... Read more

Revealed: Kamala Harris and Willie Brown's Awkward 1995 Encounter! thumbnail
Revealed: Kamala Harris and Willie Brown's Awkward 1995 Encounter!

Category: News & Politics

In a startling blast from the past an abc news profile from 1995 has resurfaced showcasing a young camala harris alongside her then lover willie brown who was 31 years her senior the footage which went viral just hours before harris's debate with donald trump offers a glimpse into the vice president's... Read more

The Ugly Truth About Kamala's Missing Migrant Children No One Tells You thumbnail
The Ugly Truth About Kamala's Missing Migrant Children No One Tells You

Category: News & Politics

Some of those numbers total number of unaccompanied children released to sponsors in fiscal year 24 which is still ongoing 7478 total number of un uh children released to sponsors in fiscal year 2020 16,8 37 sheriff what's your analysis of those numbers look i'm these numbers are probably much higher... Read more

Biden's Trainwreck Highlights - Trump vs Biden Debate thumbnail
Biden's Trainwreck Highlights - Trump vs Biden Debate

Category: News & Politics

Look if we finally beat medicare thank you president uh biden president trump he right he did beat medicare he beat it to death and he's destroying medicare on the the the total initiative relative to what we can to do with more border patrol and more asylum officers president trump i really don't know... Read more

Germany Reinstates Border Controls - What’s Next? thumbnail
Germany Reinstates Border Controls - What’s Next?

Category: News & Politics

Germany has reintroduced border controls in response to rising migration concerns this decision comes as the country faces an influx of asylum seekers prompting officials to prioritize national security and public safety the german government aims to manage the situation more effectively ensuring that... Read more

Kamala Harris vs Donald Trump New 2024 Election Map Prediction | September -  POST-DEBATE! thumbnail
Kamala Harris vs Donald Trump New 2024 Election Map Prediction | September - POST-DEBATE!

Category: News & Politics

There you go man got i need i need that hat want my autograph hell no you know my name on come on i ain't going that far yeah do a selfie there he go yeah yeah i'm proud of you now oh wow even cnn just slam cala harris they just admitted that she didn't win this debate check it out vice president harris... Read more

VIRAL SENSATION OF CONCORD?  #Concord  #The Viral Sensation thumbnail
VIRAL SENSATION OF CONCORD? #Concord #The Viral Sensation

Category: News & Politics

I bet you didn't know this but conquered is the next big thing in tech so what is conquered imagine if your favorite gadgets had a superpower conquered is like that it's a new technology that's making everything faster smarter and cooler think about this your phone your tablet even your smart fridge... Read more

Kamala's Passion Is Small Businesses | The Program | Election Time thumbnail
Kamala's Passion Is Small Businesses | The Program | Election Time

Category: News & Politics

Intro my passion one of them is small businesses i was actually my mother raised my sister and me but there was a woman who helped raise us we call her our second mother she was a small is economy better than 4 years ago? business owner i love our small businesses Read more