Social Security is a financial lifeline for retirees, but the way you access it is shifting. As 2025 unfolds, administrative priorities are changing how millions of people interact with the program day-to-day.

It seems the only constant in life is change. Let's take a look at why the 2026 COLA is both good and bad for Social Security recipients.

The two main ways to fix Social Security are to shrink benefits or increase revenue coming into the coffers. The Committee for a Responsible Federal Budget (CRFB) created The Reformer -- a clever tool that lets any of us enter various proposed changes to the program to see what percentage of the projected shortfall will be closed by each of them.

Actions taken now will affect your Social Security benefits later. Here are seven things every 30-something should know about Social Security today.

Social Security is facing a financial crisis, and a proposed solution is to phase out the program, allowing workers to opt out of the system at age 35 and invest their taxes in private retirement

Social Security benefits are a critical source of income for many people. Unfortunately, some of the individuals who are reliant on benefits may soon find themselves facing one of the biggest benefit cuts in history.

The cost-of-living adjustment for 2026, known as COLA, came in slightly higher than the prior year's hike of 2.5%. Over the past decade, the average COLA clocked in at 3.1%.

Those retiring in 2025 at age 62 can earn a maximum possible benefit of $2,910 per month in 2026. If you file at age 67, the maximum benefit next year will be $4,156 per month. To earn the highest possible payment of $5,251 per month, you'll need to wait until age 70 to begin claiming.