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The United States’ Social Security system is in deep trouble.
According to the Trustees’ 2025 report (1), the Old Age and Survivors Insurance (OASI) trust fund, which pays benefits to retirees and survivors, could be depleted by 2033, leaving it able to cover only 77% of liabilities – already a 2% drop from the 2024 estimate (2).
As time goes on, experts and lawmakers are divided on solutions, from reducing benefits and raising the retirement age to expanding sources of income (3).
Labor economist Teresa Ghilarducci, a renowned thought leader on US retirement issues, believes there are “many easy solutions” – and here’s what she recommends.
Ghilarducci believes the solution to Social Security’s challenges is simple: Bring in more revenue, and soon.
“We’re past the point where we can fix Social Security by cutting benefits,” she told Bloomberg (4). “This is a non-starter because Social Security benefits keep almost all people on Social Security … above the poverty level.”
But staying above the poverty level in retirement isn’t exactly the stuff of Hallmark cards. So, if you’re concerned that Social Security might not replace your income and fully support the retirement you want, it might be worth talking to a qualified financial advisor to make sure you’re maximizing your retirement contributions and building a stronger bankroll for your golden years.
Hiring an advisor can be a lifelong commitment that could make or break your retirement. That’s why finding trusted advisors is crucial.
Fortunately, finding the right advisor is simple with Advisor.com. Their platform connects you with licensed financial professionals in your area who can provide personalized guidance.
A professional advisor can also help you determine how many years you have left to invest before retirement and assess your comfort level with market fluctuations—two key factors in building the right asset mix for your portfolio.
Through Advisor.com, you can schedule a free, no-obligation consultation to discuss your retirement goals and begin building a long-term financial plan beyond Social Security.
Read more: Approaching retirement with no savings? Don’t panic, you are not alone. Here are 6 easy ways to catch up (and fast)
Not everyone is convinced that pumping more money into Social Security is the answer, especially as the U.S. debt approaches $39 trillion as of January 2026 (5). This daunting figure is especially relevant for Social Security, which is already the largest government expense, accounting for 22% of federal spending so far in fiscal year 2026 (6).
The demands on the program will also increase. Life expectancy has continued to increase in the United States, with the number of Americans aged 65 and older projected to increase from 58 million in 2022 to 82 million by 2050 (7). As a result, benefit payments will continue to grow, with approximately $1.6 trillion expected to be paid in 2025, according to a fact sheet published by the US Social Security Administration (8).
Some advocate raising the retirement age to 67 or even 70 to address these pressures, while others suggest structural reforms or benefit cuts. However, without a clear consensus in Washington, the future of Social Security remains in limbo, underscoring the importance of securing a reliable retirement plan that can withstand potential changes.
One thing that isn’t uncertain is the importance of building a solid nest egg for a secure retirement — especially if you want to rely less on Social Security.
Financial experts like Suze Orman have long promoted the idea that by focusing on growing your retirement accounts and diversifying your investments, you can create a stronger financial foundation.
Just as important is having an emergency fund, which can protect your savings from unexpected expenses without jeopardizing your retirement goals. After all, the last thing you want is to have to liquidate your pension fund to cover a hospital stay.
In an era of economic uncertainty, securing your financial future may require a more proactive approach than in the past—one that goes beyond old age security.
For example, if you optimize your investments for stability, gold is usually more stable than stocks during recessions and economic downturns. In fact, the price of an ounce of gold has risen over the past 10 years, from $1,116 in January 2016 to a new high of $4,995.50 at the end of January (9).
If gold sounds appealing, now you can invest directly in the precious metal. One way to do this, which can also offer significant tax advantages, is to open a gold IRA with Priority Gold.
The Gold IRA allows investors to hold physical gold or gold-related assets in a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to protect their retirement funds against economic uncertainties.
To learn more, you can get a free informative guide that includes details on how to secure up to $10,000 in free silver on qualifying purchases. You can also download a free information guide to find out if a gold IRA is the right move for your retirement goals.
While building personal wealth through smart, independent investing has never been more essential, it’s also important to remember to set aside an emergency fund—different from retirement savings—so you don’t have to dip into long-term investments when unexpected expenses arise.
As daunting as it may be to think about, there are ways to increase your emergency fund that are less stressful and further away than you might think.
One of the best ways to grow your emergency fund is a high-yield account. A high yield account offers higher interest rates than a traditional savings account, thus generating more money in interest in less time than a traditional savings account.
To get started, a high-yield account like a Wealthfront Cash Account can be a great place to grow your funds, offering both competitive interest rates and easy access to cash when you need it.
The Wealthfront Cash Account offers a base variable APY of 3.25%, but new customers can get a boost of 0.65% in the first three months for a total APY of 3.90% offered by program banks on your uninvested cash. That’s about eight times the national deposit savings rate, according to the FDIC’s January report.
With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic bank transfers, you can ensure that your funds remain accessible at all times. Additionally, Wealthfront Cash account balances up to $8 million are FDIC insured through program banks.
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US Social Security Administration (1), (2), (3), (8); Bloomberg (4); Joint Economic Committee of the US Congress (5); US Treasury Department (6); Population reference office (7); Macro trends (9)
This article provides information only and should not be construed as advice. Offered without warranty of any kind.
