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.

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,

Question: I’m 62 and worried about Social Security’s future, especially given that it is projected to pay me less than I expected in just a few years. Should I take it early? Answer: This is a question that financial planners often get,

President Donald Trump has long touted eliminating taxes on Social Security. His administration says he has achieved it, but the bill says otherwise.

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

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.

And, your Social Security benefits are also protected from most creditors under federal law. Credit card companies and debt collectors generally can't garnish your Social Security payments to recoup what's owed. Because of this, some people on fixed incomes choose not to pursue debt forgiveness.

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