One positive aspect of Social Security is that the program is set up to adapt to economic changes. Each year, for example, Social Security benefits are eligible for an automatic cost-of-living adjustment.

Social Security only has nine years left until it becomes insolvent, and in light of the Social Security Fairness Act's recent passage, that might be too optimistic. The program is staying afloat by draining money from its trust funds,

Millions of retired Americans are set to benefit, but there are concerns the program could run out of funds sooner.

As Social Security prepares to roll out significant adjustments in 2025, recipients are likely to experience both benefits and challenges. Key updates include higher taxes for high earners, modest cost-of-living adjustments (COLA),

Social Security has two other funding sources: benefit taxes on some seniors and interest income earned on money in the program's trust funds. But both of those are in danger right now. The program's total costs became higher than its total income in 2021,