Majority of Americans Fear Social Security Cuts as Trust Fund Depletion Looms

With the Social Security trust fund projected to run out by 2033, concerns grow over reduced benefits and financial insecurity in retirement.

A Bankrate survey reveals that 73% of non-retired adults and 71% of retirees worry about Social Security's future solvency.
The Social Security trust fund is projected to be depleted by 2033, potentially reducing benefits to 79% of current levels unless legislative action is taken.
More than half of non-retired adults expect to rely on Social Security for necessary expenses, with reliance increasing among older generations nearing retirement.
Financial advisors urge individuals to delay claiming benefits until age 70 if possible, to maximize payouts and account for longevity risk.
Experts emphasize the importance of supplemental savings, as Social Security alone is insufficient to replace pre-retirement income for most Americans.