One of the main benefits of Social Security is that it provides a safety net for retirees who may not have enough savings to support themselves in their later years. Social Security benefits are also indexed to inflation, which means they will increase over time to keep up with the rising cost of living. Additionally, Social Security provides disability and survivor benefits to eligible individuals and their families.

One of the main cons of Social Security is that the program is facing financial challenges due to the aging population and declining birth rates. This could lead to benefit cuts or tax increases in the future. Additionally, Social Security benefits may not be sufficient for some retirees to maintain their standard of living, especially if they have high living expenses or medical costs.

To be eligible for Social Security benefits, you must have worked and paid Social Security taxes for a certain number of years. The exact number of years varies depending on your age and the type of benefits you are applying for. Additionally, you must be at least 62 years old to claim retirement benefits, although you can choose to delay claiming benefits until a later age to receive a higher monthly payment.

Social Security benefits are calculated based on your average monthly earnings during your 35 highest-earning years. Your benefit amount may also be adjusted based on the age at which you claim benefits and whether you are receiving other types of benefits, such as disability or survivor benefits.

Yes, you can work and still receive Social Security benefits, but your benefits may be reduced if you earn more than a certain amount. The exact amount varies depending on your age and the type of benefits you are receiving. Additionally, if you are under full retirement age and claim benefits while continuing to work, your benefits may be further reduced if you earn more than a certain amount.