If you have been paying attention to headlines lately, you have probably seen a flood of conversations around Social Security—and yes, things are changing. The Social Security Administration (SSA) is rolling out updates that could impact benefits, eligibility, and retirement planning for millions of Americans.
One of the biggest changes is the potential increase in the full retirement age (FRA). Right now, most people can collect full benefits between 66 and 67, depending on when they were born. But some lawmakers are pushing to raise that age even further to 68 or 69, to help offset Social Security’s long-term funding shortfalls.
There’s also talk about adjusting how Cost-of-Living Adjustments (COLA) are calculated. In recent years, COLA increases have barely kept pace with inflation, and now there is pressure to either revamp the formula or offer more generous adjustments.
How could Donald Trump affect Social Security?
Whenever election season rolls around, Social Security becomes a major topic—and 2025 is no different, especially with Donald Trump making headlines. Many Americans want to know: What would Trump do to Social Security if he gets back in office?
Although Trump has repeatedly said he “won’t touch Social Security”, critics argue that his broader fiscal policies—especially tax cuts and military spending—could strain the federal budget, leading to pressure to reduce entitlement spending later on.
According to a March 2024 interview, Trump said:
“I will never cut Social Security. I want to make it stronger and better.”
Still, with mounting deficits, experts say all options could be on the table—including higher payroll taxes, delayed benefits, or tighter eligibility rules.
Is Social Security going broke?
You have probably heard scary phrases like “Social Security is running out of money.” While that is not entirely false, it is not exactly true either.
Here is the deal: According to the Social Security Trustees Report, the program’s trust funds could be depleted by 2034 if no changes are made. That does not mean Social Security will disappear—it just means that incoming payroll taxes will only be able to cover around 77% of scheduled benefits.
So yes, without reforms, benefits could shrink. But you will not wake up one day and find your check gone. That said, lawmakers will have to act, and the uncertainty is stressing people out, especially those planning to retire in the next 5 to 10 years.
What is dogecoin doing in this conversation?
You might be wondering: What does Doge—yes, the meme-turned-crypto coin—have to do with Social Security? Well, nothing directly, but here is where it gets interesting.
Some younger Americans, disillusioned by the state of Social Security, are turning to crypto investments as part of their long-term retirement plan. Dogecoin, often viewed as a joke, has become symbolic of this generational shift in financial thinking.
The idea is simple: If you do not trust Social Security to be around when you retire, why not take retirement into your own hands? Whether or not Dogecoin will stand the test of time is a whole other story—but its rise does reflect how uncertainty around Social Security is shaping people’s money moves.
Should you be worried about your Social Security benefits?
Look, it is normal to feel uneasy with all this news floating around. But here is what you can do right now: Stay informed. Know your retirement age, understand how your earnings affect your benefits, and keep an eye on legislative updates.
Also, do not rely on Social Security alone. If you are able, build up a personal retirement plan, whether that includes a 401(k), an IRA, or yes—even a small crypto stash.
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