In reality, many older American end up retiring on Social Security alone. And people in that boat unfortunately risk a world of financial hardship -- especially when Social Security benefits don't rise very much from one year to the next.

Millions of retirees who receive Social Security benefits will see a 2.5% cost-of-living increase to their monthly checks beginning in January

New York — Tens of millions of older Americans will see an increase in benefits this January when a new cost-of-living adjustment is added to Social Security payments.

As inflation continues to challenge retirees, is the latest cost-of-living adjustment enough to safeguard your financial stability?

A recent survey from the Motley Fool shows 50% of retirees have considered going back to work to make ends meet.

Every October, the Social Security Administration (SSA) announces how much more seniors will receive from the government program the next year due to inflation. The COLA for 2025 will be 2.5%, which is a big step down from the increases received for the last three years.