Is Social Security Actually Secure?

A recent report from the Congressional Budget Office projects that Social Security’s Old-Age and Survivors Insurance Trust Fund could run out of money in 2032, one year earlier than previously expected! If the trust fund is depleted and no legislative changes are made, benefits for retirees and survivors could be reduced by about 28%, affecting roughly 70 million Americans (That’s about 20% of the whole US population!) The Committee for a Responsible Federal Budget estimates that a typical couple retiring just after the program becomes insolvent could see their benefits reduced by about $18,400 per year. Analysts say several recent laws have worsened the program’s outlook by reducing tax revenue going into Social Security and expanding benefits for some retirees. Experts say Congress still has options such as adjusting payroll taxes or increasing the retirement age, but warn that delaying action will make solutions more difficult. This retirement source was never intended to last 25 years or more in retirement.  Did you know, some retirement products are designed to do just that available in private market?  

*Source: Medora Lee, “Social Security Faces Earlier Depletion Date, Report Finds,” USA Today / Reuters, March 5, 2026.