Moneywise

Sun, Jun 15, 2025, 2:12 AM5 min read

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Retirees are anxious about the future of Social Security as they navigate extreme market volatility and high levels of policy uncertainty. Even some House Republicans are concerned — breaking ranks to warn President Donald Trump of the potential consequences of further cuts.

Rep. Nicole Malliotakis and 14 of her Republican colleagues sent a letter to the new Commissioner of Social Security, voicing worries over “inadequate customer service provided by the Social Security Administration (SSA).” The average wait time for phone calls in 2025 has jumped over 40%, to a staggering 86 minutes.

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And seniors are just as concerned: An Associated Press poll showed 30% of respondents aged 60 and over aren’t confident about the availability of Social Security benefits when they need them.

“It’s a worry that I’m sure everybody is having right now,” Kathie Sherrill, a 74-year-old retiree, told the Detroit Free Press on March 26.

Insecurity around Social Security isn’t necessarily new. After all, the program’s trust funds may only be able to fully support retirement benefits until 2035 before they are reduced, according to the SSA’s 2024 trustees report.

Politicians have mused over the years how Social Security should be reformed. But the Trump administration is simultaneously seeking to make cuts within the SSA, while implementing policies that experts say risk fueling inflation, potentially slowing the global economy. Some experts believe President Donald Trump’s proposals may speed up Social Security’s insolvency. Given that SSA data shows people over 65 derive about 31% of their income from Social Security, these factors are unsurprisingly fueling retirees’ fears.

In the meantime, Sherrill and her friends are cutting back on life’s little luxuries, such as eating out and entertainment.

“That wasn’t my plan, but that’s what I’ve been doing,” she said.

If your benefits are disrupted, you don’t need to be caught off guard. There are measures you can take to reduce your reliance on Social Security benefits, and bolster your retirement savings without relying on government policies.