According to the 2025 Social Security Trustees Report, the combined trust fund reserves were projected to be depleted in 2034 per the 2025 Trustees Report. However, in August 2025, Social Security’s chief actuary confirmed that the One Big Beautiful Bill Act, signed into law on July 4, 2025, advances that depletion date to 2032, meaning the program is now roughly six years from a potential shortfall. Depletion does not mean Social Security ends. Even without legislative changes, ongoing payroll tax revenue would still cover a significant portion of scheduled benefits, estimated at around 77% to 81% depending on which trust fund is measured. The OASI trust fund alone, which pays retirement and survivor benefits, is projected to be depleted in 2033 with 77% of benefits payable at that time. Throughout Social Security’s history, Congress has acted multiple times to shore up the program, and broad political support makes it unlikely benefits would be cut without some form of corrective action. That said, uncertainty about future benefit levels is real and worth planning around. At Moore Invested, we build retirement income strategies that don’t rely entirely on Social Security so that regardless of what happens in Washington, your financial plan remains on track.

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What Are Social Security Benefits?

Social Security benefits are monthly federal payments that replace part of your pre-retirement income—usually alongside savings and workplace accounts, not as your only retirement source.

How Is Social Security Calculated?

Your benefit is based on your 35 highest-earning years, adjusted for inflation, then run through a progressive formula that produces your Primary Insurance Amount at Full Retirement Age.

Social Security at 62, 67, and 70: What’s the Difference?

You can claim as early as 62, at Full Retirement Age (67 for most workers today), or as late as 70—and the age you choose permanently shapes your monthly payment.

Social Security at 62 vs. 70: Which Is Better?

Claiming at 62 brings income sooner; waiting until 70 can lock in a benefit up to 77% higher—with break-even often around age 80 to 82.

When Should I Take Social Security?

The best claiming age depends on your health, work status, other income, spousal benefits, and taxes—not a one-size-fits-all rule.

Benefits of Delaying Social Security

Each month you delay past Full Retirement Age up to 70 adds about two-thirds of one percent to your benefit—roughly 8% per year for life.

What Is the Social Security Earnings Limit?

If you claim before Full Retirement Age and keep working, the earnings test can temporarily reduce benefits until you reach FRA.

How Do I Find Out My Social Security Benefit Amount?

Create a free my Social Security account at SSA.gov to view earnings history and personalized estimates at ages 62, Full Retirement Age, and 70.

What Is a Social Security Strategy?

A Social Security strategy is a deliberate plan for when and how to claim so you maximize lifetime income—not just filing at the earliest eligible age.

How Does Retiring Early Affect Social Security?

Stopping work before 62 can lower your benefit by adding zero-earnings years and skipping high-earning years that could replace lower ones in your 35-year average.

Social Security and IRA Withdrawals

Traditional IRA withdrawals count toward combined income and can trigger federal tax on up to 85% of your Social Security benefits.

Will Social Security Run Out in 20 Years?

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