The long-awaited Social Security cost-of-living adjustment (COLA) for 2025 was announced Thursday — and it's the smallest in four years.

In theory, these annual adjustments should align with higher prices for goods, making them a lateral shift. However, as anyone who has visited a grocery store in the past few years will attest, inflation does not burn out of the economy evenly. I spoke with advisors about how they're discussing this with clients.

I hope you'll check it out, along with the rest of this week's stories.

As always, thank you for reading. Talk to you next Wednesday!