In reality, many older American end up retiring on Social Security alone. And people in that boat unfortunately risk a world of financial hardship -- especially when Social Security benefits don't rise very much from one year to the next.

Tens of millions of older Americans will see an increase in benefits this January when a new cost-of-living adjustment is added to Social Security payments. The 2.5% raise is intended to help meet higher prices for food, fuel, and other goods and services.

The cost of living, or COLA, increase for Social Security benefits is smaller than it has been in 3 years. Many seniors who depend on it say that's not enough.

All Social Security checks will get a 2.5% boost next year, thanks to the 2025 COLA. The way the government adds this to your checks is a bit complicated, but you can get a good approximation by adding 2.5% to your existing checks. In the case of the $910 average spousal benefit, the COLA will add about $23, bringing it to $933 per month.

New York — Tens of millions of older Americans will see an increase in benefits this January when a new cost-of-living adjustment is added to Social Security payments.

The Social Security Administration recently announced several key changes to the program for 2025. Here's what you need to know.

As inflation continues to challenge retirees, is the latest cost-of-living adjustment enough to safeguard your financial stability?