When you've spent four decades or more in the workforce, it's understandable to be drawn to the idea of claiming those monthly checks at 62.

The consolation prize retirees received from the One Big Beautiful Bill is arguably a bigger win than ending the tax on benefits.

Q. I receive a significant pension from work I have done outside of Social Security. I have not worked enough hours under Social Security to receive a benefit based on my work record. My spouse is

Choosing the right Medicare coverage, deciding whether to buy a long-term-care insurance policy and determining when to claim Social Security retirement benefits are among the most complicated financial decisions older adults need to make.

Let's assume that you worked for at least 35 years in jobs that are eligible for Social Security and you wait until age 70 to claim benefits. What salary do you need to make to receive the maximum benefit payment? The magic number is $176,100 -- for now.

Starting in August, the Social Security Administration (SSA) will claw back overpayments, potentially reducing recipients’ checks by as much as half. Those who received a letter from the SSA regarding overpayment may need to rebudget their expenses as the agency moves to recoup excess funds.

The same approach could work again: thoughtful, phased reforms that maintain the program’s core protections. Ideas on the table include lifting the payroll tax cap (currently $176,100), gradually raising the 6.2% FICA rate, or making more forms of compensation subject to payroll taxes—similar to how TSP contributions are treated.

Social Security phishing scams use urgency and impersonation to steal personal data. Learn how to spot fake SSA emails and implement 10 protective measures.

If Trump deports at least 10% of undocumented immigrants a year, Social Security funds are expected to be depleted six months earlier.

With concerns over Social Security high, seniors may benefit by supplementing their income with one of these options.

Senator Bill Cassidy on Friday proposed significant changes to Social Security to prevent the agency's impending insolvency.In an interview on CNBC's Squawk Box, he said the Social Security fund is currently invested in Treasury bonds,