For the overwhelming majority of retirees, Social Security represents more than just a monthly check. It's a vital source of income that lays a financial foundation for aging Americans who can no longer provide for themselves.

Retirement brings new financial challenges, particularly when Social Security makes up all or most of your income. ​​To ensure a good quality of life later on, it's vital to cut spending now.

The Social Security Administration has announced that Supplemental Security Income (SSI) payments will see a significant increase in December. This adjustment is part of the annual cost of living adjustment (COLA) based on inflation data.

Social Security's COLA gets all the attention, but retirees and workers will encounter other changes in 2025 that will affect their checks.