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Social Security income is not tax-free after age 70.
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Retirees may expect a higher cost of living adjustment than the 3.2% received in 2024.
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Recent estimate puts the 2025 cost of living raise at 2.6%.
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Last three adjustments were 3.2%, 8.7%, and 5.9% respectively.
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Average adjustment over the last 10 years is 2.75%.
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