Estimating what the increase in Social Security benefits will be in 2025 for United States citizens is an easy task. Still, it is true that as of today we can only make estimates about it, since we do not have an official COLA figure for 2025.
But according to The Senior Citizens League, we can already know an approximate COLA figure. And the truth is that when it comes to the Social Security COLA, this group usually has very accurate predictions. So we find that we may already have a ballpark figure for the COLA so we can calculate what the new check will be in 2025.
What will my Social Security be in 2025 with the COLA?
Given that the 2025 COLA could be as high as 2.5%, a regular Social Security check would increase $25 for every $1,000 we collect through this year 2023. In this regard, we can learn that:
- A $1,500 benefit would go to $1,537.5 per month.
- An average Social Security check of $2,000 would become $2,050 per month.
- The maximum age retirement benefit of $4,873 would become $4994 per month.
All other payments would increase as well, since we would only have to add 2.5% to our regular payment. Thanks to this COLA, the checks in the coming year will come close to balancing the inflation we are currently experiencing.
How do I increase my Social Security check?
Aside from the COLA, there is no other way to increase your Social Security check if you have already applied for and are collecting benefits. But if we have not yet applied for a retirement payment, it is possible to increase this check before we contact Social Security to start getting it.
We must take into account the following:
- Retirement age.
- Years worked.
- Salary during the years worked.
The later the retirement age, the better. Likewise, the more years worked, the better the Social Security check. The same is true for salary, since a higher salary gives a higher retirement benefit.
The ideal combination is to retire at age 70 after working 35 years at a high salary. Only then can we get the maximum $4,873 check from Social Security in 2024.