2025 Social Security Projections: 3 Things to Know [COLA]
Stay informed about the upcoming changes to Social Security in 2025. In this video, we'll discuss the projected changes to full retirement age, the cost-of-living adjustment (COLA), and social security taxes.
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As a former IRS Agent, I try to explain federal taxes to defend against an audit. While there are no guarantees, it’s good to have an insiders view.
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KKey Points:
Social Security Wage Cap: The maximum amount of wages subject to social security taxes will increase to $174,900 in 2025.
Full Retirement Age: The age to reach full retirement age will increase to 66 years and 10 months in 2025.
COLA: The projected COLA for 2025 is lower than in 2024, reflecting lower inflation rates.
Stay Updated:
These numbers are projections and may change slightly. Be sure to check for official updates in October.