Answer: Social Security was designed as insurance for those who could no longer work, and a retirement earnings test has been a part of the system from its creation in 1935. Back then, the test was all-or-nothing: Any earned income would preclude your getting a benefit.

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.

However, the latest report by the Social Security Trustees makes it abundantly clear that benefit cuts may soon be on the table. In the coming years, Social Security won't collect enough payroll tax revenue to keep up with its financial obligations due to a shrinking workforce.

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

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.

The Social Security Board of Trustees Just Updated Its 2026 Cost-of-Living Adjustment (COLA) Forecast. Here's How Much Your Benefits Could Increase. The Board of Trustees thinks retirees will get a bigger bump in 2026 than it thought a year ago.

The second round of Social Security payments for the month of July are headed out. Here's when you can expect your check.

Fact checked by Vikki Velasquez Applying for disability benefits through Social Security, known as Social Security Disability Insurance (SSDI), can be a tricky process, especially if you are also dealing with a difficult medical decision.