A recent survey conducted by Clever Real Estate found that 73% of baby boomers are worried about Social Security under Donald Trump‘s administration and several other related things. Stats show that nearly 85% of the adults in the United States are worried about the looming benefit changes, with 68% fearing the long-term future of the Social Security Administration (SSA).
People have been worried about this for nearly 15 years, but Elon Musk’s growing impact through DOGE, especially with the way it’s reshaping digital tech in government, has pushed those concerns to a whole new level. Reports also state that SSA might shift providing the public updates to Elon Musk’s X platform which has raised many questions on transparency and accessibility as well.
The percentage of American people contributing to Social Security is 94% and any changes in the Social Security can certainly harm the income of the people, and even retirees too. But according to several experts, here are some ways your income can stay immune to them!
Stay Vigilant and Informed
In the present scenario, where the policy of the country is rapidly taking shifts, staying informed is arguably the best thing you can do to protect your income. There is definitely a chance that SSA will provide updates on X, so having an account on the platform is necessary. Try logging into your SSA account on a daily basis to learn and monitor the benefit estimates. Besides, keeping an eye on recent financial developments can eventually protect your financial future.
Claim Social Security at Full Retirement Age (FRA)
Timing is the utmost thing that needs to be taken care of. For example, you can start collecting Social Security at age 62, but this can reduce your monthly benefit permanently. Hence, to receive the full amount and avoid any sort of reduction in the benefits, wait until FRA — which is 67 for those born in 1960 or later. If you delay claiming until age 70, your monthly checks increase even further.
1/ BREAKING: NYT reports the Trump admin is adding migrants to Social Security’s “death master file” to cut them off from financial services, which is effectively “tantamount to financial murder” according to former SSA commissioner Martin O’Malley. pic.twitter.com/yC4KlczhDM
— Jackie Singh 🇺🇸 (@HackingButLegal) April 11, 2025
It is certainly not possible to control the policy changes of the Social Security Administration. Still, you can certainly control your secure benefits, and by this, you can significantly leverage your income even after retirement.
Consult a Financial Advisor
Consulting a financial advisor is greatly going to help as they will help you through the complex policy updates and eventually plan as per your financial needs.
According to Edelman Financial Engines, more than 50 % of Americans feel that they are missing out on savings concerning an inadequate amount of knowledge, and 45% say they need expert help to properly plan for retirement.
Early planning, even with small contributions, can yield significant results over time, thanks to compounding growth.
While these policies during Donald Trump’s term have caused significant concern among citizens, experts advise preparation over panic.
