Social Security, the federal social insurance program that millions of Americans rely on for income, faces a shortfall in funding it counts on from its trust funds.
But that doesn’t mean the program is going bankrupt or will be entirely unable to pay benefits.
“There is no bankruptcy or collapse in the cards,” Stephen Nuñez, director of stratification economics at the Roosevelt Institute, writes in new research titled, ”‘Will Social Security run out?’ is the wrong question.”
Surveys show many Americans are worried about Social Security’s future, and experts say this may inform their decisions about claiming benefits, one of the most important financial decisions in retirement. Concerns about the program’s future may prompt people to claim benefits earlier — which reduces their monthly checks and, in turn, may weaken their retirement security.
Almost three-quarters of Americans — 74% — said they worry Social Security will run out in their lifetimes, according to a 2025 Nationwide Financial survey of 1,812 adults.
