Social Security Recipients on Track for a Smaller Raise Next Year

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 16 September 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

The annual cost of living adjustment for Social Security monthly payments is projected to rise at a significantly smaller pace than the past several years. Wall S treet Journal reporter Anne Tergesen joins host J.R. Whalen to discuss how the increase is designed to prevent retirees from losing ground to inflation. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:18.0	Here's your money briefing for Monday, September 16.
0:21.0	I'm J.R. Whelan for the Wall Street Journal. This summer's inflation
0:26.7	readings have given us a preliminary idea of what the monthly increase for
0:30.5	Social Security recipients will be in 2025.
0:34.3	It's looking like about 2.5% for next year, which is significantly lower than we've seen in
0:39.7	a while, but yet also reflects the fact that inflation is lower than it's been in a while.
0:45.0	But the lower cost of living adjustment isn't necessarily a bad thing for retirees.
0:50.0	We'll run the numbers with Wall Street Journal reporter and Turgison after the break.
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1:27.0	We're getting a clearer picture of what next year's monthly Social Security increase
1:38.0	is going to be.
1:39.4	Wall Street Journal Retirement Reporter Ann Turgison joins me. And how is the Social Security
1:44.8	cost of living adjustment or COLA calculated? It is calculated based on a
1:51.0	consumer price index for urban workers to be specific.
	...

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