Social Security COLA up 2.5% for 2025... but Medicare Part B Projected to Jump 5.9%!

The 2.5% cost of living adjustment reflects a steady decline in inflation. However, it looks like we'll be paying almost 6% more for Medicare Part B! That doesn't mean you'll see a smaller SS check in January, but if you're wondering how this will affect you, @Tom with @InternationalFinancial and @erinkennedy walk through these questions:

-Does the COLA affect when we should claim our Social Security benefits?
-How does this jump in the cost of Medicare Part B affect my Social Security check?
-How will this COLA affect the taxes we pay on our SS benefit?

If you have any questions about when you should claim Social Security or how to pay for Medicare, please reach out to Tom for a complimentary consultation by calling 973-394-0623 or visit www.InternationalFinancial.com

#COLA #SocialSecurity #IRMAA #WealthManagement #Taxes #TaxPlanning