Social Security benefits become available to those who qualify as early as the age of 62, but if you can wait until 70, you'll get the maximum payment in your monthly check. That said, sometimes it doesn't make financial sense to wait.

According to a recent Social Security COLA survey by The Motley Fool that asked 2,000 retirees about the COLA, 81% of retirees say that the 2025 COLA will not help them keep up with their essential living expenses. And it isn't hard to see why.

Social Security beneficiaries have relied on annual cost-of-living adjustments (COLAs) to maintain their purchasing power.

Social Security recipients are allowed to collect benefits while working. Once full retirement age arrives, you can earn any amount of money without risking having benefits withheld. But prior to that point, you'll be subject to an earnings-test limit.

When you are on  Social Security, you can expect your retirement benefits to increase during most years. That’s because Cost of Living Adjustments (COLAs) typically happen automatically from year to year.

Are you a retiree who would also be considered part of the baby boomer generation? If so, you might be concerned about the 2025 Social Security change to the cost of living adjustment -- or COLA,

The bad news is that you'll lose spousal benefits once you're no longer married, but you could be entitled to a different type of benefit. You'll only qualify for spousal benefits if you're currently married to someone who is entitled to either retirement or disability benefits.

Key Points In 2025, Social Security benefits got a 2.5% cost-of-living adjustment. Initial estimates are calling for a similar COLA in 2026. At this point, it’s premature to nail down a COLA, as it will depend on economic conditions in the next 12