If you’re living in the United States and receiving Social Security benefits, you might be curious about your next payment, especially with the upcoming Cost-of-Living Adjustment (COLA) in 2025.
These payments are important because they help people manage the rising cost of living. Starting in January 2025, Social Security payments will increase to help recipients cope with inflation, making sure they can still afford their daily needs.
The Importance of Knowing Your Social Security Benefits
Many people don’t fully understand how much they will get from Social Security when they retire.
A recent study from the National Institute on Retirement Security found that only 11% of people who haven’t retired yet know the exact amount of their future Social Security benefits.
This shows a major gap in people’s financial planning for retirement. Many also feel unsure about their future benefits, which can make it harder to plan for a stable future.
How to Check Your Social Security Benefits
You can find out how much Social Security you will receive by creating an account on the Social Security Administration (SSA) website. Once you set up your account, you can get a personalized estimate of your future payments.
This easy-to-use tool can help you plan your finances better, but unfortunately, many people don’t take advantage of it. By using the SSA’s “My Social Security” feature, anyone over 18 can access this information and keep track of their contributions.
Social Security Payment Schedule for 2025
In 2025, Social Security payments will be made on a set schedule every month. It’s important to keep track of these dates so you know when to expect your payments. Here are the scheduled payment dates for Social Security retirement benefits in 2025:
- January: 8, 15, 22
- February: 12, 19, 26
- March: 12, 19, 26
- April: 9, 16, 23
- May: 14, 21, 28
- June: 11, 18, 25
- July: 9, 23, 30
- August: 13, 20, 27
- September: 10, 17, 24
- October: 8, 15, 22
- November: 12, 19, 26
- December: 10, 17, 24
What is COLA and Why Does it Matter?
COLA stands for Cost-of-Living Adjustment, which helps Social Security benefits keep up with rising prices. As the cost of everyday items increases, COLA ensures that the money you receive from Social Security will maintain its value.
This change is calculated based on the Consumer Price Index (CPI), which tracks the cost of goods and services. With inflation being high, the 2025 COLA will likely be significant, helping retirees maintain their purchasing power.
Planning for Your Financial Future
Social Security is an important source of income, especially for retirees. To make sure you’re financially prepared, it’s a good idea to plan ahead.
Knowing how much you can expect from Social Security will help you decide if you need additional savings or investments, such as a pension plan.
Using tools like the SSA website can give you a clear picture of your financial future and help you prepare for a secure retirement.
What is the Cost-of-Living Adjustment (COLA)?
COLA is an increase in Social Security benefits to keep up with inflation and rising costs of living.
How can I find out how much I will receive in Social Security?
You can create an account on the Social Security Administration website to get a personalized estimate.
What is the Social Security payment schedule for 2025?
Payments are made on specific dates each month. You can check the full 2025 schedule to know when your payments are due.
Why should I check my Social Security benefits early?
Checking early helps you plan better for retirement and ensures your contributions are accurate.
How does COLA affect my Social Security?
COLA ensures that your Social Security benefits increase to match inflation, so your money stays valuable.
