It's smart to get at least a rough idea of how much income you can expect from Social Security so that you can plan accordingly.

Estimating your Social Security income is a big part of preparing for retirement. It's essential to know exactly how much money you're going to receive in your Social Security checks every month. The good news is that it's easy to find out with a free online tool from the Social Security Administration.

However, the amount of income subject to the Social Security portion of the FICA tax will change next year. The maximum taxable earnings is currently $168,600 but will rise to $176,100 in 2025. There is no limit on the amount of earnings for which FICA taxes used to fund Medicare must be paid.

Among the other Social Security changes coming in 2025 are a smaller cost-of-living adjustment at 2.5%, down from 3.4%; an increase in maximum taxable earnings from $168,000 to $176,100; and appointment-based services at Social Security offices nationwide.

In other words, while Musk has publicly advocated for reductions to federal spending in the trillions, there was no explicit evidence of him saying he wants to cut Social Security benefits, specifically, or tangible proof of him working towards that alleged objective, as of this writing.

Although Social Security has been around for decades, it's common for some of the program's aspects to change from year to year. For example, seniors on Social Security are eligible for an automatic cost-of-living adjustment,

The Social Security Administration has announced several changes for 2025 that will impact millions of Americans. One of the most significant adjustments is the increase in the maximum amount of taxable earnings for Social Security.