Experts Highlight Key Social Security Challenges and Strategies for Retirement

Concerns about funding shortfalls and optimal claiming strategies dominate discussions on the future of Social Security.

Social Security faces potential benefit reductions by 2034 unless Congress addresses funding shortfalls, with payouts potentially dropping to 80% of current expectations.
Retirees are encouraged to consider delaying benefits until age 70 for maximum monthly payments, though individual factors like health, longevity, and financial needs play a critical role in decision-making.
Experts emphasize that Social Security alone is insufficient for retirement, with average annual benefits barely exceeding the poverty line in 2025.
Financial advisors recommend supplementing Social Security with savings in 401(k) plans and Roth IRAs to ensure a stable retirement income.
Specific eligibility rules for divorced and widowed individuals, as well as spousal and survivor benefits, add complexity to Social Security planning.