Personal Finance

Does Donald Trump Collect Social Security?

Maurie Backman

Published: March 4, 2025 9:12 am

The exact amount of money that President Trump has to his name is a bit of a mystery. That’s because Trump is the only president in years not to make his federal tax returns public.

However, some of Trump’s tax data was eventually released, and it led to an interesting discovery. Despite being eligible for Social Security, Donald Trump has yet to collect benefits.

That’s not necessarily surprising, though.

Trump is undoubtedly a very wealthy man. And any money he receives from Social Security will probably be a negligible sum for a person like him. But you should know that you’re entitled to claim Social Security in retirement even if you’re extremely wealthy and don’t need the money.

How Social Security eligibility works

Retirees become eligible for Social Security by paying into the system during their working years. Specifically, to get benefits later in life, you need to accrue a total of 40 work credits throughout your career.

The value of a work credit changes from year to year. But currently, it only takes $1,810 of earnings to qualify for a single Social Security work credit. This means that to get the maximum number of work credits in 2025, you need an income of $7,240 or more. That’s not very hard to do, even on a minimum wage (assuming a full-time work schedule).

Assuming you accrue your 40 lifetime work credits, you’re eligible to claim Social Security once you turn 62. And if you wait until your full retirement age, which is 67 for anyone born in 1960 or later, you get your full monthly benefit without a reduction. You can also delay your claim up to age 70 for a boosted monthly benefit.

At 78 years old, President Trump is more than old enough to claim Social Security, and he has been for years. And while his income history may be unclear, it’s fair to assume that he earned enough money in his lifetime to become eligible for Social Security. So he probably just never bothered to sign up due to not having the need.

When you don’t need the money

If you’re incredibly wealthy going into retirement, you could choose to forgo your Social Security benefits like Trump did. Nobody is going to force you to sign up for Social Security if you don’t want or need the money.

But you also shouldn’t feel bad about taking those benefits. After all, you paid into the system and earned those benefits for your retirement.

If you don’t need the money, you could always collect your monthly Social Security checks but give all of the money away to charity. Or, you could use it to improve the lives of less fortunate people you know.

Meanwhile, it’s not too late for President Trump to sign up for Social Security if he wants to. But if he’s gone this long without claiming benefits, then chances are, his plan may be to pass on that income provided his financial circumstances don’t change drastically for the worse.