Whether you’ll have a big enough nest egg to retire comfortably depends not only on how much you save and invest over time but also, for most working Americans, on how much you’re likely to get in Social Security benefits.

A major Social Security payment worth up to $1,415 will be sent to millions of Americans today. Supplemental Security Income (SSI) is a monthly government benefit which can be as high as $943 for an individual and $1,415 for a couple. Those eligible for the checks receive the benefit on the first of the month, falling today, Tuesday 1st October.

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The Social Security Administration (SSA) will announce the 2025 COLA on Oct. 10, 2024. That's the day the Bureau of Labor Statistics releases its inflation data for September. The CPI-W for September is the only missing piece of information needed for SSA to calculate next year's adjustment.

Two rounds of Social Security payments for retired and disabled Americans will be made this week. All Social Security benefits are paid directly into bank accounts by the Social Security Administration (SSA),

In 2024, Social Security recipients received a 3.2% adjustment. The average retired worker benefit lands at roughly $1,900 per month, so that amounts to a raise of just over $60 per month. Unfortunately, retirees can expect some not-so-good news about the short- and long-term future of Social Security.

Social Security is designed to provide retirement income. It can provide a level of financial protection for you and your family. But what happens if you are receiving a Social Security check and