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☆ Here’s the deflation breakdown for September 2024 — in one chart
▼ + stars: | 2024-10-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

However, prices for many physical goods have deflated as supply-and-demand dynamics return to normal following pandemic-era contortions. "Outside of goods prices, I don't think we'll see price cuts," said Mark Zandi, chief economist at Moody's. That served to weaken demand, which also pushed down prices, economists said. Outside of supply-demand dynamics, the U.S. dollar's strength relative to other global currencies has also helped rein in prices for imported goods, economists said. Energy, food and consumer electronicsOutside of imported goods, consumers may also see a "normalization" of prices in food and energy, Zandi said.

Persons: Jeff Greenberg, Mark Zandi, Zandi, women's outerwear, Sarah House Organizations: Universal, Getty, Finance, Social Security, Vehicles, Wells, Wells Fargo Economics ., U.S . Federal, Fed, U.S, Energy Locations: Wells Fargo, U.S

☆ Here's why the Social Security COLA is smaller for 2025
▼ + stars: | 2024-10-10 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

The Social Security Administration on Thursday announced that the cost-of-living adjustment will be 2.5% in 2025. When that increase goes into effect, it will be the lowest adjustment to benefits that beneficiaries have seen since 2021, when the cost-of-living adjustment, or COLA, was 1.3%. The Social Security cost-of-living adjustment was put in place to help benefits keep pace with inflation. More from Personal Finance:Social Security Administration announces 2.5% COLA for 2025House may force vote on bill affecting pensioners' Social Security benefits72% of Americans worry Social Security will run out in their lifetimeAs government inflation data shows the pace of inflation has subsided, the size of the annual increase to benefits has come down. The 2025 adjustment is not the lowest the Social Security COLA has been.

Persons: Charles Blahous, George Mason University's, Social Security COLA Organizations: Social Security Administration, Social Security, Urban, Clerical Workers, CPI, Finance

☆ Social Security cost-of-living adjustment for 2025: Here's how benefits may change
▼ + stars: | 2024-10-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

The Social Security cost-of-living adjustment, or COLA, could be 2.5% next year, Mary Johnson, an independent Social Security and Medicare analyst, predicted last month. The Social Security Administration is expected to announce the COLA for 2025 on Thursday. Social Security COLAs have averaged about 2.6% over the past 20 years, according to the Senior Citizens League. More from Personal Finance:House may force vote on bill affecting pensioners' Social Security benefitsWhy children miss out on Social Security survivor benefits72% of Americans worry Social Security will run out in their lifetimesCould the Social Security COLA estimate change? The official Social Security cost-of-living adjustment will factor in one more month of government inflation data when it is announced.

Persons: Mary Johnson, Joe Elsasser, Elsasser, Alicia Munnell, Johnson, Hurricane Helene Organizations: Social, Social Security, Social Security Administration, Senior Citizens League, Center for Retirement Research, Boston College, Finance, Urban, Clerical Workers

☆ Why the Social Security Administration may want you to update your personal account online
▼ + stars: | 2024-07-16 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

To make sure you can continue to access your account, the agency is urging you to log in, particularly if you created your online " my Social Security " account before Sept. 18, 2021. These account holders will soon have to transition to a Login.gov account to access online Social Security services. The average speed to answer those calls was about 36 minutes in the second quarter, according to the Social Security Administration. A confirmation will appear once the account has been successfully linked, allowing access to my Social Security accounts and other services. Some regret the decisionLower inflation points to smaller 2025 Social Security COLALegitimate Social Security web links will always begin with "https://" and end with ".gov/."

Persons: Zers Organizations: Social Security, Social Security Administration, Social, Finance, Security

☆ Social Security cost-of-living adjustment may be lower in 2025. These charts help show why
▼ + stars: | 2024-07-03 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Yet one buffer for the effects of inflation — the Social Security cost-of-living adjustment, or COLA, — may be lower next year. As the rate of inflation moderates, the Social Security COLA for 2025 might be 3%, according to the latest estimate from Mary Johnson, an independent Social Security and Medicare policy analyst. That estimate is lower than the 3.2% boost to benefits that more than 66 million beneficiaries saw starting in January. It is also substantially lower than the record 8.7% COLA beneficiaries saw in 2023 and the 5.9% COLA that went into effect in 2022 in response to record-high inflation. Because it is still very early in the year, the Social Security COLA estimate may be subject to change.

Persons: Eva, katalin, Mary Johnson Organizations: Getty, Social Security, Urban, Clerical Workers, Social Security Administration

☆ Why inflation is still upending retirement plans even as price growth slows
▼ + stars: | 2024-06-24 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Lower Social Security COLA forecast for 2025Unlike most other sources of retirement income, Social Security benefits are automatically adjusted for inflation each year. As current retirees continue to feel the pinch of higher costs, slowing inflation points to a lower Social Security cost-of-living adjustment next year. The Social Security cost-of-living adjustment may be 3% in 2025, estimates Mary Johnson, an independent Social Security and Medicare analyst. In contrast, beneficiaries saw a 3.2% Social Security cost-of-living adjustment this year — resulting in an average retirement benefit increase of just over $50 per month. That followed record high Social Security cost-of-living adjustments of 8.7% in 2023 and 5.9% in 2022.

Persons: Caroline Feeney, Feeney, they're, Mary Johnson, Johnson Organizations: Istock, Getty, Prudential's, Prudential, Social Security, Security, Urban, Clerical Workers, CPI

☆ High inflation harms older households — and two factors determine who is most at risk, research finds
▼ + stars: | 2024-05-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

This year, Social Security beneficiaries saw a 3.2% increase to their benefits. The Social Security cost-of-living adjustment may also be 3.2% in 2025 based on the latest government inflation data, estimates Mary Johnson, an independent Social Security and Medicare policy analyst. That estimate may change between now and October, when the Social Security Administration announces next year's cost-of-living adjustment, or COLA. The average Social Security COLA has been 2.6% over the past 20 years, according to The Senior Citizens League. Many households tend to cut back on savings and increase withdrawals to try to lift themselves to where they were before inflation picked up.

Persons: Lourdes Balduque, Mary Johnson, Social Security COLA, Laura Quinby, It's, Quinby, Warren Buffett's Organizations: Social, Social Security, Social Security Administration, Senior Citizens League, Center for Retirement Research, Boston College, Center for Retirement, Finance

☆ This is the easiest way for newbies to start investing, financial experts say
▼ + stars: | 2024-03-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

For many people, investing is a necessity to grow one's savings and provide financial security in retirement. A 'fabulous, simple solution' for beginnersTarget-date funds, known as TDFs, are the simplest entry point to investing for the long term, according to financial pros. TDFs are based on age: Investors choose a fund based on the year in which they aim to retire. Other 'solid choices' for novice investorsInvestors who want to be a bit more hands-on relative to TDF investors have other simple options, experts said. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.

Persons: Warren Buffett, Berkshire Hathaway, Christine Benz, Lee Baker, Baker, Carolyn McClanahan, Benz, Charles Schwab, Rowe Price, it's, McClanahan Organizations: Getty, Berkshire, Fidelity Investments, Morningstar, Apex Financial Services, Investors, Benz, Planning Partners, Fidelity, Vanguard Group, BlackRock, Finance, Young Locations: Atlanta, Jacksonville , Florida, U.S

☆ Here's why Social Security cost-of-living adjustments may be smaller in 2025 and beyond
▼ + stars: | 2024-03-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Peopleimages | Istock | Getty ImagesEarly estimates for the 2025 Social Security COLANew government data points to a 2.4% Social Security cost-of-living adjustment for 2025, The Senior Citizens League estimates, based on new government inflation data released this week. The Social Security Administration typically announces the cost-of-living adjustment for the following year in October. In the meantime, experts say there are steps retirees can take to help compensate for the prospect of lower benefit increases. Annuities, which provide fixed income in retirement in exchange for a lump-sum investment, can be one way to supplement a retiree's income, LaVigne said. Consult with a financial advisorBefore purchasing an annuity or other retirement income strategy, it helps to consult with a professional.

Persons: " Johnson, Johnson, Lisa Featherngill, Featherngill, Kelly LaVigne, You've, LaVigne Organizations: Istock, Getty, Security COLA, Social Security, Senior Citizens League, Urban, Clerical Workers, CPI, Comerica Wealth Management, Social, Allianz Life Locations: Winston, Salem , North Carolina

☆ Retirees face significantly higher Medicare Part D prescription drug premiums in 2024. What to know
▼ + stars: | 2023-11-21 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Fatcamera | E+ | Getty ImagesA new law is poised to cap seniors' prescription drug costs covered under Medicare, starting in 2025. But retirees may be in for a shock next year — significantly higher Medicare Part D premiums for prescription drug coverage. That represents an increase ranging from $128.32 to $380.96 from 2023 to 2024, according to the firm. watch nowInsurers may pay higher costs due to the higher out-of-pocket limits, and higher premiums is a way of getting beneficiaries to share that burden, according to Ron Mastrogiovanni, founder & CEO of HealthView Services. High-income beneficiaries will pay higher premiums.

Persons: Ron Mastrogiovanni, Mastrogiovanni, Juliette Cubanski, Cubanski, Michael Daley, Daley Organizations: Medicare, HealthView Services, Research, Social Security Locations: California, Florida , New York , Pennsylvania, Texas, KFF

☆ 20,000 people feared dead in Libyan city destroyed by floods
▼ + stars: | 2023-09-14 | by ( Patrick Smith | ) www.cnbc.com time to read: +5 min

"The situation is very large and surprising for the city of Derna. A view shows a damaged car, following a powerful storm and heavy rainfall hitting the country, in Derna, Libya September 13, 2023. A government official estimated Wednesday that 25% of the city was completely destroyed or washed away. People look at the dead bodies outside the hospital, after a powerful storm and heavy rainfall hit Libya, in Derna, Libya September 12, 2023. A view of devastation in disaster zones after the floods caused by the Storm Daniel ravaged the region, on September 11, 2023, in Derna, Libya.

Persons: Hassan El Salheen, Aly, Storm Daniel, Mohamed Abd El Ghany, Daniel, Abdel Moneim Al, Ghaithi, Esam Omran, Hunter Biden, Elie Abouaoun, Reuters Othman Abduljaleel Organizations: Reuters, Sky News Arabia, fetori, United Nations, World Meteorological Organization, AFP, WMO, NBC, FBI, Social Security, International Rescue, International Organization for Migration, United Arab, Fetori, Tripoli Public Services Company, Libyan News Agency, Storm, Anadolu Agency, Getty Locations: Libya, Al Sharief, Bani Swief, Egypt, Derna, Geneva, Tunisia, United Arab Emirates, Turkey, Tripoli, Derna's

☆ Social Security COLA Expected to Rise in 2024, but Not by a Lot
▼ + stars: | 2023-08-10 | by ( Anne Tergesen | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/social-security-payment-increase-cola-2024-retirement-a3fce38e

Persons: Dow Jones, a3fce38e

☆ As inflation cools, Social Security beneficiaries may see a much lower cost-of-living adjustment in 2024
▼ + stars: | 2023-07-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

As the rate of inflation continues to fall, Social Security beneficiaries may expect to see a much lower cost-of-living adjustment for 2024. The Social Security COLA may be 3%, according to a new estimate from The Senior Citizens League, a nonpartisan senior group, based on new consumer price index data for June released on Wednesday. A lower 2.6% rise would happen if there is no net inflation for the rest of the year, according to the forecast. The projected increases to benefits for next year would fall short of the 8.7% rise beneficiaries saw in 2023 — the highest boost in four decades. In 2022, beneficiaries saw a 5.9% increase, which was also a record increase at the time.

Persons: Mary Johnson Organizations: Social, Social Security, Senior Citizens League, Finance, Federal Budget

☆ Social Security cost-of-living adjustment may be 2.7% in 2024, new estimate finds
▼ + stars: | 2023-06-13 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

New government data shows the annual rate of inflation dipped to the lowest level in about two years as of May. But that may be bittersweet news for Social Security beneficiaries, as they may receive a much lower cost-of-living adjustment in 2024 than they did this year. The Social Security COLA could be 2.7% in 2024 based on the latest consumer price index data, according to The Senior Citizens League, a nonpartisan senior group. The CPI rose 4% from a year ago as of May, the U.S. Department of Labor said Tuesday, and 0.1% for the month. The subset of the index used to determine next year's cost-of-living adjustment, the consumer price index for urban wage earners and clerical workers, or CPI-W, was up 3.6% year over year — the lowest level since March 2021, The Senior Citizens League noted.

Organizations: Social, Social Security, Senior Citizens League, Finance, GOP, U.S . Department of Labor

☆ This chart shows the fastest-rising costs for Social Security beneficiaries
▼ + stars: | 2023-05-17 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Lordhenrivoton | E+ | Getty ImagesHigh inflation 'extremely difficult' for retireesSocial Security COLAs have increased by 78% since 2000, according to The Senior Citizens League. At the same time, the cost of goods and services retirees typically buy has gone up by 141.4% over that time. Yet the current 36% loss in buying power is still one of the deepest losses recorded, according to the group. Eggs topped the list of fastest-growing costs for seniors since 2000. While higher spending may complicate the fight against higher inflation, it is delayed relief for older Americans, whose COLA was lower than price growth in 2022.

☆ Column: Inflation and the markets take a bite out of retirement confidence
▼ + stars: | 2023-05-02 | by ( Mark Miller | ) www.reuters.com time to read: +6 min

But persistent inflation and last year’s sharp stock market decline have shaken the confidence of American workers and retirees about their retirement prospects in a way not seen since 2008. That is the key finding of the 2023 Retirement Confidence Survey - the longest-running survey of its kind measuring worker and retiree confidence. But inflation affects everyone, and it is a constant risk factor in retirement plans - even when it is not making headlines. For starters, most retirees depend on Social Security for a substantial portion of retirement income - and it comes with built-in inflation protection. This year, the COLA was a whopping 8.7%, the largest inflation adjustment in four decades.

☆ As inflation starts to subside, a lower Social Security cost-of-living adjustment for 2024 may be on the horizon
▼ + stars: | 2023-04-13 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

New government inflation data shows inflation is cooling — and that could point to a lower cost-of-living adjustment, or COLA, for Social Security beneficiaries next year. Yet another measure used to calculate the Social Security COLA each year — the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W — rose 4.5% over the last 12 months and 0.3% for the month prior to seasonal adjustment. To be sure, that is a very early estimate, according to Mary Johnson, Social Security and Medicare analyst at The Senior Citizens League. Gauging how much the increase for 2024 will be, if there is one, will be clearer toward the second half of the year, she said. In 2023, Social Security beneficiaries saw an 8.7% bump to their Social Security benefits, a four-decade record prompted by high inflation.

☆ After an 8.7% Social Security cost-of-living adjustment for 2023, next year's increase may not be as large
▼ + stars: | 2023-03-20 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Pascal Broze | Onoky | Getty ImagesAn 8.7% Social Security cost-of-living adjustment for 2023 means beneficiaries received on average $140 per month more starting in January. The Social Security COLA for 2023 was the highest bump in monthly checks beneficiaries have received in four decades. About 70 million beneficiaries receive Social Security or Supplemental Security Income payments. watch nowWhile the Social Security COLA for this year may help ease beneficiaries' budgets, next year's increase may not be as large. Social Security COLA for 2024 may be far lessBased on current projections, the Social Security COLA for 2024 will likely be much lower than this year's 8.7% due to cooling inflation, according to the league.

☆ When Social Security beneficiaries can expect first checks of 2023 to include 8.7% cost-of-living adjustment
▼ + stars: | 2023-01-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Other beneficiaries are scheduled to receive their Social Security benefits on the third of every month if they also receive Supplemental Security Income (SSI) benefits or if they received Social Security before 1997. Yet there's one thing the record high Social Security COLA still can't beat: persistently high consumer prices prompted by inflation. Because of that, your purchases will probably consume any increase you see in Social Security benefits, noted Joe Elsasser, founder and president of Covisum, a Social Security claiming software company. Medicare premium costs are downThe good news for Social Security beneficiaries is that Medicare Part B premiums are down this year. watch nowAs those monthly premium payments are typically deducted directly from Social Security checks, beneficiaries stand to see more of the COLA.

☆ Social Security COLA to Raise Taxes for Some Americans
▼ + stars: | 2022-10-26 | by ( Anne Tergesen | ) www.wsj.com time to read: 1 min

Social Security benefits will rise 8.7% in 2023 to help retirees keep pace with inflation. While that is good news for most retirees, some will find the bigger checks come with a bigger tax bill. Americans owe taxes on a portion of their Social Security benefits if they earn more than $25,000 as individuals, or $32,000 as couples. (When computing taxes on Social Security, the Internal Revenue Service counts half of a taxpayer’s benefits as part of their income.)

☆ Retirees Catch a Break With the Social Security COLA
▼ + stars: | 2022-10-14 | by ( Josh Zumbrun | ) www.wsj.com time to read: 1 min

A longstanding complaint about the Social Security COLA is that it doesn’t reflect the true costs facing retirees, and should instead be based off an estimate of beneficiaries’ expenses. Be careful what you wish for. On Thursday, the Social Security Administration said recipients will get an 8.7% increase in their payments next year and, for the second year in a row, that actually exceeds estimates of how much their costs increased.

☆ Social Security COLA Increase: What It Means for Your Benefits
▼ + stars: | 2022-10-12 | by ( Anne Tergesen | ) www.wsj.com time to read: 1 min

The 2023 boost in monthly Social Security benefits, known as the COLA, is expected to be the highest in four decades. Millions of older Americans whose budgets have been squeezed by inflation are due for a raise of sorts when the Social Security Administration announces its annual cost-of-living adjustment Thursday. The boost in monthly benefits, known as the COLA, is expected to be the highest in four decades and will go into effect in January. What is a Social Security cost-of-living increase? The Social Security Administration has adjusted benefits payments annually for inflation since 1975 to ensure the approximately 70 million retirees and disabled people who receive Social Security won’t see their benefits eroded by inflation.

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