For millions of Americans, Social Security is the only means of financial freedom in retirement. Many survivors, people with disabilities, and older people solely rely on Social Security. However, in the coming few years, these people will be left with higher prices and lower benefits as the coffers dry up.
A new Nationwide survey reveals that over 60% of current or expected recipients “would not survive financially” if the benefits are cut in half. This is based on the inflation rate, current market price, and the reduced amount of benefits expected to be implemented from 2033.
https://youtu.be/YS6xoNK-Q8U?si=bLV-_ZxN0ZIKymg7
This warning shines a harsh light on the fragile state of retirement security in the US. Current and upcoming administrations need to prioritize savings and find solutions for the lives of millions of Americans.
Right now, around 74 million Americans are receiving benefits. Of these, nearly 22 million retirees depend on it as their primary source of income. Even after implementing COLA for the current year, it has been reported that the benefits already fall short. Many people are struggling to cover rent, groceries, and medical expenses.
The US does not care for the elderly: Almost half of middle income families will be poor in retirement
About 79% of people 62-70 cannot afford their pre retirement living standards
Like The Who said: “Hope I die before I get old” pic.twitter.com/893QvbVfI2
— Amazon Piss Jugs – Abolish ICE (@JeremyWard33) September 28, 2024
After these reports, this nationwide survey sends a stark message. Anyone who relies on social security benefits or will rely on them completely in the future will be left behind, picking up the pieces. These benefits will be nowhere near what will be needed.
The financial position of Social Security and its reliability are becoming questionable. Its situation is precarious.
The Social Security Trust Fund is expected to be empty by 2034. This is a fact until Congress intervenes. Past that, if there is no legislative action, benefits will be reduced as much as 81% of their expected level.
Reporter: A brand new analysis finds that Social Security would run out in six years if Trump’s agenda is enacted pic.twitter.com/eLiOZPpvfb
— Kamala HQ (@KamalaHQ) October 21, 2024
Only the tax collected by the government will go towards social security, and with a larger number of boomers getting retired and a smaller number of younger generations working and paying towards it, there won’t be enough funds for all.
This reduction in the biggest financial safety net is not good for Americans’ confidence. AARP reports that only 36% of respondents had any trust in Social Security Administration and that it would continue delivering full benefits in the future. Among the most worried are the youngest adults.
These groups are especially pessimistic. Only 25% of Gen Z and 34% of millennials think they’ll receive benefits when eligible.
Financial advisors have stressed that these concerns are not hypothetical. They have been warning politicians and representatives regarding the upcoming difficulties. They are asking people, especially those aged 40–60, to maximize retirement savings now. Experts have also recommended saving because Social Security won’t be accessible or sufficient.
46% of gen z workers do not have a retirement account in the first place, guy. https://t.co/PP7pL35H9W
— ✙ Copesint Central ✙ 🇺🇸🇱🇹🇵🇱🇩🇪🇺🇦 (@copesint) September 4, 2025
Future generations might face reduced or delayed benefits, so it is essential to secure personal financial resilience.
Experts have also suggested a few solutions to the policymakers to strengthen Social Security:
- Increase the payroll tax base by raising or eliminating the income cap.
- Adjust the retirement age, though that may disproportionately hurt lower-income workers.
- Means-test benefits to focus resources on those most in need.
- Modify COLA formulas to better reflect retirees’ actual cost-of-living pressure.
Hands Off Social Security! THIS ⬇️ is *exactly* why we filed the “Hands off our Social Security Act” right before we left DC.
Social Security is a lifeline for 68 million Americans. And we won’t let them take it away.
Our bill:
-Stops privatization
-Protects your benefits… pic.twitter.com/Prbr7gvGl8
— Rep. Melanie Stansbury (@Rep_Stansbury) August 2, 2025
However, these policies will work only if they are implemented on time. Without effective reform, the impact of cuts would ripple across households, and people would be forced to make choices between rent, food, and medicine.
This article and so many others neglect to communicate to the general public how decades of administrations raided S.S. to fund our costly and fruitless wars. I’ve known this for some time and yes, I’m also almost totally dependent on S.S. and now have to go back to work at nearly 70 y/o!!
The government stole the money! There is no other reason that it would be running low! THEY need to be made to put back every single penny! I don’t care what program out there that they have to pay billions to ! Social security comes first! It is our money we did not give you permission to spend any of it!!!!
They are allready making those choices now and are homeless because of the high rent and not enough low income housing .and if u have a felony u automatically out and it isn’t fair because not all felons are bad people or child molester or murderers some felons should be able if they are rehabilitate d to live in a low income housing as v we’ll as being able to rent a home . I am a senior homelesscwoman my income is 200 percent below poverty level and I don’t get e enough money to rent not even a one bedroom apartment so I live in a tent in the woods and have Noone Noone to help me.i have maj o r health issues and was taken off the waiting list to a assisted living facility because I had a felony (long story) my Doctor wanted me in a assisted living facility, this facility in Titusville Florida called Titusville Towers booted me off the list because of a felony they like everybody else they don’t care what your story is or if u need 24 or care or not .the whole system is only for those who have money .I seen it with some friends one his mother wasn’t old enough but got in the other had DUI felonys got in why they get more money than I do and don’t have the health issues I have yep!!things need to change !
The cuts to social security does NOT involve regular beneficiaries. Waste, fraud (and there is a lot), and abuse. Please stop trying to scare people.