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,

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

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.

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

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.

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

Key Points When you're laid off later in life, it can be tricky to find a new job.If you're at least 62, claiming Social Security is an option you can look at for income.Before you sign up for benefits,