A young man in a denim jacket covers his face with one hand while holding a phone in front of a Social Security Administration building; to the right, a red circle with a red cross over an image of a person holding money.
Follow the Experts' Advice or You Could Lose Your SSA Rights | PixaBay, Grok, Getty Images Signature, en.estoesatleti.es
Economy

Social Security Confirms It: Millions of Americans on Alert, You Could Lose It

US Experts Recommend SSA Beneficiaries Make These Moves to Avoid Losing Rights

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by ESTOESATLETI

The Committee for a Responsible Federal Budget has pointed out that Trump's initiatives could leave Social Security unfunded in just six years, moving the expected insolvency from 2034 to 2031. This is due to proposals like eliminating taxes on Social Security benefits and on tips and overtime, which would significantly reduce the system's revenue.

Meanwhile, the former commissioner of the Social Security Administration, Martin O'Malley, warned that the cuts implemented by the Department of Government Efficiency could collapse the benefits in a matter of weeks.

Measures That Could Put Your Social Security Rights at Risk in the US

The current policies include eliminating taxes on benefits. Although it might seem like tax relief, this measure would reduce the system's revenue by nearly one trillion dollars in the next decade.

A man holding several hundred-dollar bills in front of a Social Security sign.
These Measures Worry Millions of Americans | Grok

The reduction of employees in the Social Security Administration and the closure of offices make access to services difficult, especially for the elderly and people with disabilities. More than 6,300 legal migrants have been affected by being mistakenly included in the "master death file," preventing them from working or accessing benefits.

4 Actions You Should Take to Avoid Losing Your SSA Rights

Experts recommend Social Security beneficiaries take the following steps to avoid losing rights. Take note of all of them if you don't want to be unpleasantly surprised.

  • Increase Contributions to IRA Accounts: Increase contributions to individual retirement accounts to ensure future income.
  • Invest in Dividend Stocks: Generate additional income through investments that offer periodic payments.
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  • Keep an Emergency Fund: Save between six and nine months of expenses to face unforeseen events.
  • Save for Medical Expenses: Use Health Savings Accounts (HSA) in anticipation of possible increases in medical costs with age.

What Has the US Government Said About All This?

The Trump administration has defended these measures as necessary to reduce public spending and improve government efficiency. However, experts and officials have expressed concern about the negative impact on beneficiaries and the system's sustainability.

Social Security is at a crossroads. The current proposals could temporarily relieve the tax burden for some, but at the cost of the system's long-term stability. It is vital that beneficiaries take proactive steps to protect their rights and ensure their future well-being.

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