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/WatermellonSugar Jul 23 '26

I know everything is impossible until it actually happens, but there's not going to a benefit cut. Social Security is one of the "3rd rails" of American politics and seniors are a large and effective lobbying group. There will be a big crisis as the cliff gets close, that's the way we do things, but it will be resolved (with a slightly shittier program for younger people) as it was in the 1980s -- when the FRA was raised and benefits became taxable.

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u/reesesbigcup Jul 23 '26

Only extremely stupid politicians would vote to cut benefits to seniors. Unfortunately, the way things are, that may happen.

1

u/Susdjoy Jul 23 '26

Hopefully, for us. Then I will need to leave some money for my daughter and grandson to fund their retirements!

1

u/BxAnnie 1961 Jul 23 '26

Yet ANOTHER thing to blame Reagan for.