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hello everyone in this video I want to update you with new information related to Social Security benefits specifically how much the increase will be for next year as of now it's September and in October Social Security will announce the official amount however based on the latest information we can estimate how much Social Security benefits will increase for next year that's the topic I want to update you on in this video and this latest news might not be too good for those currently receiving Social Security benefits because up until this point Social Security estimates that the percentage increase will be 2.5% this isn't an official estimate from Social Security though it's from associations that analyze the data uh up to this point they're looking at current prices and estimating that the increase will be quite small only 2.5% Which is less than the 3.2% increase from this year unless from now until the end of this month there are some events that cause inflation to spike dramatically then it's possible Social Security will announce in October that the percentage increase could be higher than 2.5% but if prices remain stable like like they are now there's a strong likelihood that Social Security benefits for next year will only increase by 2.5% Social Security will make the official announcement on October 10th and the increase will be applied starting in January 2025 that's the information I wanted to share with you in this video if you found it helpful please like share and subscribe for more similar content in the future thank you and have a great day