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hey thanks for making it to Veterans infot tap I'm glad you made it we are two months of the three months needed to calculate Cola the August figures are in so now we have July August in the bank here and September we are you know almost halfway through September that data will be released uh October 10th and right around then we should also get the actual Cola figure but we have a lot of data in to really nail down a good projection on where we're going to fall and I wanted to share that with you today so please hit the thumbs up subscribe share with a friend all that good stuff I truly appreciate it the two ask her look hit the thumbs up Let the video run that pushes us down to uh everyone and if you want to support the channel in other ways consider being a member thank you so much to all you members I truly appreciate you all right so the August 2024 consumer price index for urban wage earners which is the Indy utilized uh currently was released September 11th and it was 38. 640 that's a 2.5% above the fiscal year 2024 Baseline of 30123 6 September 2024 figures will be announced October 10th the CPI figures from the end of this fiscal year right or the third quarter of the calendar year depending on where you're reading stuff is July August and September and that will be compared to the fiscal year 2024 Cola Baseline to calculate the 2025 Cola there is an article that I have here with a projection and this is from think advisor I wanted to share this with you as well uh and kind of run through some of the rationale and some of the the highlights of August um that you might be interested in so hang on with me through this as we push past the uh projection and get into the meat and potatoes a little bit and some of the highlights and see if you agree with uh what inflation looks like on paper versus uh your reality right all right so moving on the Social Security cost of living adjustment or Cola for 2025 is likely to be 25% that's down from last month by the way for those that don't know so 25% is now the uh projection at one point several months ago it was around 3ish that they were projecting so we've already lost a half per. so that is based on the latest Consumer Price Index data released today Wednesday September 11th 2024 uh moving on the uh prospective Cola for next year would be about average for the last two decades according to an estimate provided by the independent Social Security expert Mary Johnson but would still be the lowest for beneficiary since 2021 the 2025 Cola will be the lowest received by Social Security beneficiaries since 2021 and now there they're talking about social security beneficiaries and that's fine because Cola the cost of living adjustment that effective pay raise affects Social Security recipients it it it uh will absolutely affect uh VA benefit recipients so uh anything that is going to drive your income uh upward um through Cola right is what we're talking about here so moving on uh at the same time inflated prices persist on key Essentials such as housing Meats auto insurance and uh any type of services and repairs Johnson said the 2024 uh cost of living adjustment for Social Security beneficiaries was 3.2% as a gentle reminder um which we felt was too low then so I've said it before and I you know I give you my arm as a line if inflation does this and our cost of living adjustments do that sure they're both trending upward great but they're trending at different trajectories right and so the further away we get the further apart we are you know it's it's like throwing a mortar out there you know you could be off a little bit and you know 1,000 meters in front of you that that's not very much but you start going further out the further off track you're going to become so moving on uh let's see so the Consumer Price Index for urban wage earners and clerical workers the the CPI W increased 2.4% during August from 12 months ago down from a 2.9% increase measure in July showing the annual rate of inflation continues to Trend downward how convenient as a result the cola uh projection dropped again over the past month beyond the effect on the cola uh projection the dip in inflation should provide additional incentive for the US Federal Reserve to cut interest rates this month so remember that we live in such a world of of nuance and um just craziness right sometimes what's good is bad and what's bad is good go file a claim with the VA right uh this bad situation has warned a good percentage that's a that's a good thing uh but with all this going on the FED may cut the rate well if you have uh purchased a home uh recently you got a higher interest rate if you utilized your VA loan uh you can definitely utilize uh the interest rate reduction aspect that you could do on a VA loan we did a great video with David on uh the uh joint Channel that I have with Clay over at the civd that joint channel is called Veterans daily uh that's a we did a live there we did a live on this channel as well I'll throw a link in this video too uh as well check out that uh information it's really good if you're looking to uh potenti refinance your home all right so let's jump back into this Johnson Johnson cautions that the final Cola for 2025 could be slightly different from the current estimate this is because the cola is calculated on the average rate of inflation during the third quarter we're still missing September's data is the bottom line there which is compared against the third quarter from a year ago the Social Security Administration will release its actual 2025 Cola figure on October 10th that's when the data comes out for member now remember that legislation passes every year for the VA to essentially mirror the Social Security administration's cost of living adjustment whatever their pay raise is is going to be the pay raise for uh VA beneficiaries for you know your compensation disability compensation dependency indemnity compensation and so forth the funny thing is is that Cola is also calculated for two programs in interally to the VA uh which is chapter 35 and vrn uh last year those were 6.2% uh so we'll be curious that th those figures should be coming out shortly as well and and actually implemented October 1st so moving on August inflation highlights as reported by the Bureau of Labor Statistics the Consumer Price Index for all Urban consumers a broader measure of inflation than the CPI W increased . 2% during August on a seasonally adjusted basis that's the same increase as July over the last 12 months all items indexed increased 2.5% before seasonal adjustment the index for shelter rose. 5% in August and was the main factor in all item increase the food index increased 0.1% in August after Rising 2% in July the index for food away from home Rose 3% over the month while the index for at home was unchange unchanged the energy index fell 8% over the month after uh being unchanged the preceding month for the full year ending in August for the full year ending in August the energy index decreased a full 4% the index for all items less food and energy rose. 3% in August after Rising 2% the preceding month indexes that increased in August include shelter Airline fairs motor motor vehicle uh Insurance education and apparel the indexes for used cars and trucks household furnishings and operations Medical Care communication Recreation were among those that decreased over the month with that thank you so much for watching I appreciate you have a great one and remember if we don't take care of each other something went wrong