When the Social Security Administration (SSA) announced last October that benefits would only be rising by 2.5% in 2025, a lot of people were disappointed. Now the reality is that a smaller COLA is indicative of cooling inflation.

If you are a Baby Boomer who feels like your Social Security benefit doesn't quite stretch far enough, there's a very good reason for that. Your benefits have been losing ground for decades and, had they kept pace with inflation,

In 2025, the maximum monthly benefit Social Security will pay is $5,108. To be clear, though, that's higher than the program's maximum benefit at full retirement age this year. Those looking at $5,108 a month in Social Security need to delay their claims until the age of 70 to lock in payments that high.

Social Security benefits back in 1975 were puny -- at least by today's standards. Most of us will need more than Social Security income in retirement. There are multiple ways to increase your future benefits.

Social Security serves as a financial lifeline for millions of retired Americans. And there are a lot of retirees who don't have access to any income outside of those monthly checks. That's why the idea of Social Security cuts is so scary.