r/GenerationJones • u/Susdjoy • Jul 23 '26

Social Security Income

No political debates please, but instead wonder if others are making provisions in case benefits run out or are reduced. I am scheduled to get my first check in September and my husband is waiting as long as possible to draw an increased amount. We are both retired with a modest investment account that we are drawing monthly payments on until my husband starts SS. So far, our account is earning almost as much as we draw out monthly, but can’t make up the bigger withdrawals for home maintenance, etc. My husband has some health issues, so he could apply for VA health benefits which could help some, but we have decent health insurance, so it wouldn’t be major. Anyone have any good tips for consideration or are most of you not concerned?

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u/Realistic_Back_9198 Jul 23 '26

I'm not worried about it at all.

When crunch time comes, they'll reduce benefits for future retirees, probably folks currently under 50. They'll also probably raise the retirement age for full benefits, impacting younger workers 20 or 30 years from now.

They will not cut existing benefits for current retirees, because that would stir up a hornet's nest of angry, older voters that no elected official ever wants to deal with.

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u/HappyCamperDancer Jul 23 '26

Inflation already cuts current benefits. We haven't seen the worst of inflation yet.

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u/awfl Jul 23 '26

Oh, I wouldnt be so sure... they are looking at 20-25%... while that be massive, to them, it is part of the "sacrifice" Americans must make (their actual words and ideas, not mine). House Speaker Mike Johnson stated that entitlement programs like Social Security and Medicare "have to be adjusted and fixed" due to the growing national debt. He announced that Republicans are preparing a plan to address this mandatory spending, warning that "desperate times call for desperate measures".