Practical strategies and expert tips to help you thrive in retirement.
#1. 69 Million Americans Rely on Social Security
More than 69 million Americans—nearly 1 in 5 of all citizens—receive monthly Social Security payments today.
This figure reached a new high in 2025, especially after recent legislation restored benefits for some former government workers.
That’s a vital safety net for millions of seniors, but Social Security’s stability affects far more people than just current beneficiaries: nearly half the U.S. population pays into the system through payroll taxes every paycheck.
#2. 1975: The Year COLAs Became Automatic
Social Security checks didn’t always keep pace with inflation. Since 1975, the system began providing automatic Cost-of-Living Adjustments (COLA) tied to consumer prices.
While COLA helps fight rising costs—even when imperfect—it’s one reason Social Security remains more reliable than most pensions and savings accounts.
#3. 51% of Seniors Claim Benefits Early
You can claim Social Security as soon as age 62, but doing so permanently reduces your monthly payments. Around half of men and 52% of women decide to start early, even though waiting means getting more each month.
Fewer Americans are filing early than in previous decades—a sign that some are working longer and trying to maximize their benefit.
#4. 23% of the U.S. Population Will Be Over 65 by 2050
America is aging quickly. In 2023, 17.4% of the population was already over age 65. By 2050, it’s projected to jump to 23%.
This means more Americans will depend on Social Security for longer periods, while the shrinking share of younger workers presents a funding challenge for the system.
Two-thirds of seniors count on Social Security as a major source of income, up significantly from recent years. For about 1 in 7 retirees, benefits provide more than 90% of their income. This is becoming even more critical as pensions disappear and families struggle to save enough for retirement.
Want to learn more about how you can maximize your Social Security benefits? Get our Benefits Insider Social Security Guide to start saving today!
#6. 2034: The Year the Trust Fund May Run Short
Social Security’s trust fund has been drawn down for several years, and without action from Congress, current estimates say it could be depleted by 2034. If this happens, benefits could be reduced by nearly 20%. Policymakers must act soon to secure the program—and millions of seniors should pay attention to ongoing debates in Washington.
#7. 2.7 Active Workers for Every Beneficiary
In 1960, there were 5.1 workers supporting each Social Security recipient; today, it’s just 2.7. With fewer workers and more retirees, the system is under increasing pressure, making its long-term health dependent on reforms or increased funding.
#8. 96% Call Social Security “Crucial”
Recent surveys show Americans overwhelmingly support Social Security, regardless of age or politics—96% call it important and 74% rate it “one of the most important” government programs. This united public opinion sends a strong message to lawmakers.
Real Life Example
Eric, 70, relies on Social Security to pay his monthly bills. Without his Social Security benefits he could not pay all of his household expenses in retirement.”
What Seniors Should Do Now
Stay Informed: Watch for news about Social Security reforms and how they may affect benefits.
Review Your Record: Check your Social Security account for accuracy, and estimate your benefits (ssa.gov).
Ask for Help: Benefits counselors and trusted nonprofits can answer questions about maximizing benefits and food stamp eligibility.
Advocate: If you depend on Social Security or food stamps, let your lawmakers know—they need to hear from real people like you!
You’ve paid into Social Security—make sure you get every dollar you deserve. Look for more updates and practical tips in the next issue of The Insider from Benefits Insider.
This newsletter is for information only. Always double-check your options with a professional before making big decisions.
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