Social Security is the major source of income for people over the age of 65, with an average monthly benefit of $1,918 a month. People with medical conditions that affect their ability to work for 12 months or longer may also receive Social Security benefits through Social Security Disability Insurance (SSDI).

A recent survey from the Motley Fool shows 50% of retirees have considered going back to work to make ends meet.

There's been lots of speculation about Social Security's 2025 cost-of-living adjustment (COLA), but on Oct. 10, it all came to an end. That's because the Social Security Administration announced a 2.5% raise for 2025,

The Social Security Administration (SSA) recently announced the upcoming cost-of-living adjustment (COLA) for 2025, and many retirees feel discouraged by it. Next year's adjustment will be 2.5%, the lowest since 2021.

All Social Security recipients will soon receive a raise. On Oct. 10, 2024, the Social Security Administration (SSA) announced that benefits for more than 72.5 million people will increase by 2.5% in 2025.