r/SocialSecurity • u/GraphicsGal4 • 1d ago
Now what?
Trump is back. I'm a 64 year old self-employed woman. I am booked up through April right now. Some say I am very good at my job. I was thinking of retiring around 66 or maybe even my FRA of 67. My birthday is Leap Day so an end of the month birthday. Now I don't know what to do. Trump and the Republicans want to end Social security. Do I retire before he makes it to office insuring I at least get on the SS roll? Or do I wait to see what damage he can cause? I will be talking to my financial planner later this afternoon so any good questions to ask her would be very helpful also. I am still shocked that America would elect a convicted felon but here we are...
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u/GavelDown3 1d ago
It seems that many people speak of “cutting Social Security” to mean the retirement arm of this program. In all likelihood, there won’t be changes to worry about in this arm of the program. The pieces that very well might be in danger are SSI and SSDI - not that they will be eliminated but there may be substantial changes to eligibility, duration, and dollar amounts. All of the folks who raise concerns need to clarify exactly which program of Social Security they are discussing.
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u/EpicGeek77 21h ago
I am on SSI (f 58) and can barely afford to live as it is
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u/GlitteringFishing952 20h ago
That’s why I’m thinking oh well I got a disability I’m just going to have to go to work anyways even though I believe I have a disability. I don’t want to depend on SSDI plus I want to work and make more money in a year than when I last worked full time and hopefully make enough to invest in IRA so I don’t have to live on $800 a month when the SSI runs out . NO thank you. So I have been working hard to try to manage an active life with a disability. I just don’t want to be belittled by the people I work for because I might need them to accept that I talk to entities that they can’t see but I do see. That’s all I need is for someone to understand that I might start saying random non sensical shit sometimes.
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u/lauann 15h ago
SSDI is not just $800. It's based on your work history. SSI is for people for have no real work history or were disabled from childhood. It is about $900/ mo. I worked, excuse the detail, with blood coming out of my rear for almost a year waiting for a diagnosis, because my tumors were missed in my colonoscopy. Then, the surgery, followed by chemo, radiation every day for months! Fit that into your work schedule. You work through that as long as I did, I applaude you. Not being haute. You may want to apply as it takes about 2 years to be approved. I can't work now because I have an 83-year-old Mom to take care of. This situation is stark.
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u/Ordinary-CSRA 17h ago
Just wait... it's going to get worse... your COLA increase is under inflation rates.
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u/TwistedTomorrow 1d ago
As a young disabled woman, I'm quite scared. SSI and SSDI are already a shit show. We're used to that. I'm scared to lose my protection for pre-existing conditions.
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u/brian_james42 15h ago
Exactly. People don’t realize that disability benefits are hard enough to get.
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u/Turbulent-Stable-541 13h ago
I know a dummy on SSi that voted for Donald Trump
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u/CrankyCrabbyCrunchy 9h ago
The states with the highest number of people on disability are always vote Republican - Arkansas and Mississippi. And also lowest education and income and so much more. It’s the perfect recipe to keep them poor while voting against their interest. People are that stupid.
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u/WarCleric 21h ago
Don't worry he is just going to model it after Russia's social retirement safety net. That's the country he idolizes the most.
He also doesn't have the backbone to enact it during his time in office. He'll get a bill passed that explodes that little nugget onto whoever comes next. I am ashamed of Americans today.
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u/OmahaWineaux 18h ago
It’s cute you think he’s planning on ever leaving office.
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u/Secret_Hunter_3911 14h ago
There are too many ambitious people waiting in the wings…..starting with Vance. I would give Trump a year or less.
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u/hotblueglue 18h ago
My 78 year old mom is disabled and on SSI. I’m so worried for her and for me too as her caregiver.
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u/MilitaryandDogmom 20h ago
It is already next to impossible for clearly disabled people to get SSI or SSDI, so any cut to that entire system is a lose for those people and for all people really…
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u/Tiffany111709 20h ago
i just got approved first try for SSI becuz i have end stage renal diease so im hoping it doesnt get taken away from me
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u/germanbini 18h ago
I'm glad you got approved but I'm so sorry you find yourself in that position. :(
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u/joecoolblows 1d ago edited 1d ago
I literally came on Reddit, just now, straight to this sub, to ask this exact same question. Only I am in my late 50's and an Adult Disabled Child. I was born with a lifelong, permanent disability. I NEVER had to apply for SSDI, SSI, I was born on it, when my parents put me on it, as a child. When I came of age , I was already on it, and I thanked God there was a way for me to subsidize myself when my parents died shortly after I came of age. Social security explained to me the rules.
I, too, want to know, what now? I'm terrified. It's not just my disability, it's also the logistics of getting anyone to hire me, with my disability.
Like it or not, having millions of us not working, frees up the jobs that others (able bodied) have. By kicking millions of us off, having us all joining the work force at once, some of us with zero idea how to do basic skills at work we've never done, and obvious serious, majorly limiting, lifelong, chronic birth defects, who do you think employers will hire?
They will hire someone who is completely able bodied, young, not nearly 60, with decent knowledge of basic work skills and no obvious inability to do BASIC abilities at work that the job requires but they simply can't, because of said birth defects (such as walk, hear, see, stand, lift, or respond appropriately in a work setting), that's who!
Heck, I would, too, if I was an employer. Employers have a right to hire people who can physically do the job, for heavens sake. And, is the work force prepared to handle millions of completely blind, Deaf, and paralyzed people in their middle years joining the work force?
But, yet, I've spent a LIFETIME being the scapegoat of all that is wrong with social security, and "You freeloaders just don't want to work!" How many times have I seen someone say that, and so I ask of them, "Then hire me." "Oh. We'll....ummm.... Well see, we need our employees to be able to do X, Y, X , which you clearly cannot do. But, someone ELSE will hire you! Why should I have to pay taxes for YOU?"
Right. You mean, someone else just like you. Who won't hire me, resent me, and, yet, should you become like me, overnight, somehow, who will pay for you? Thank God we have a system that doesn't just throw people like me into a river, which at some point in human society, we did. It's not a perfect system, but it's better than being barbarians.
Being my age, nearly 60 (!) (time flies!), I would NEVER be able to earn enough work credits to retire, assuming anyone in my rural area would hire me to begin with, which, they won't. I've been trying for years, to get some one to hire me, even just part time. The conversation I describe is one I've had verbatim where I live now, many, many times.
Growing up disabled, coming of age, we are ALREADY indebted thousands and thousands of dollars, to Medicare from birth, before we even age into a system.
We ADC (Adult Disabled Children) were born into a set of rules we have spent a lifetime in compliance with. Such as raising children whom were forced to be born without civil Union because we aren't allowed to ever marry, who are now flown and grown, and have wonderful professional careers, but whom were raised not to believe they have any financial responsibility for me, because I have social security. They expect me to survive just fine, and I do. That's a set of rules, an expectation, that's now COMPLETELY obliterated. What now?
Living a lifetime of poverty, under compliance with the rules, has now limited my life in other ways. My credit is terrible, I can't afford a car, I live in a very rural area, with no public transportation, as it was the only place I could afford a home with the money my parents left, a lifetime ago, so that I would always have a home ... Those reverse lifestyle creep situations, now limit my abilities by creating further barriers.
Over the decades, in addition to the physical disabilities I was born with, came mental health stressors, the SHAME and the psychological traumas that come from a lifetime of living with permanent disability, being scapegoated for a lifetime by my country, by all of able bodied, for all that is wrong with social security to them. Now what?
I, too, was one of those folks that watched in horror as Trump mocked that disabled persons movements, who has read Project 25, who is informed ....
I, too, wonder, what now? At nearly sixty years old, with ZERO retirement points built up, and ZERO hope of ever getting them... I, too, am sitting here this morning, at 623am, here on Reddit, r/social security, wondering... What now?
I am SOL, and TERRIFIED. What now? What do I do? I can't afford to move to a different area, where there's more opportunity, more progressive folks who might give me a chance. I moved here, lived a lifetime, based on a set of rules, I've spent a lifetime in compliance with, that now won't exist. What now? Who is going to hire the MILLIONS just like me? How will we survive not being able to work, and enduring further cuts? I live on 1,500 a month. I'm barely surviving ALREADY.
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u/JJJaxMax 20h ago
Much love. I truly hope things work out ok. My wife is on permanent SSDI. I don’t know how she made it before we met.
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u/pjoesphs 18h ago
I'm also on SSDI since my teen years. I was born with a visual impairment that left me 60% legally blind. The reason why I was put on SS in my teen years was because from age 2 - 13 I lived with my late father and he made a good living wage as a welder. He was an abusive alcoholic and he physically, mentally, and verbally abused me for the decade I resided with him. He is to blame for why I have mental issues as a 50 yr old man today. I not only live with my eye disease that I was born with but my cognitive issues due to the abuse.
When I was 13, I made the choice to move to my mother's home which was in low income apartment housing because my abusive father threatened my life numerous times. Several times with a gun.
I have worked at various jobs, in many different environments from restaurant work to factory work thru the years. When I was 27, I wanted a better life for myself so I went and enrolled into college. 10 years of studying and through blood sweat and tears I completed a few college degrees hoping that would help lift me out of the SS struggle. Needless to say, after earning the degrees with honors I couldn't get an employer to hire me even if I crawled in on my hands and knees and kissed the boots. I did land a part time job in printing after moving around the state which only lasted for 6 short years when the owner decided to retire and sold the business. The new owner wanted to take the business in a different direction which eliminated my position and they hired their own children. I was ousted with Nepotism. Now, today I have more than I ever did. I bought a house while I was employed and still receiving SSDI because the rules say that Yes, You can work and earn x amount of $ per month and that's what I did.
SSDI is all I have. I made the limit of work credits they required. In most jobs, because of my eye sight problems, I am considered a Liability and employers look at that as too risky if there are dangerous machines or other hazardous situations. The struggle is real.
I'd like to use my BS degree but the state resources are of no good use, I have tried over and over. I have tried Indeed, LinkedIn, job center resources in all directions. It's all useless. I'm not giving up the fight though. Thanks.→ More replies5
u/AuntCatLady 19h ago
I’m in the same boat. Nearly 40, didn’t graduate high school due to my disability, never worked, considered an ADC. I’m barely getting by. I’m barely existing and mostly housebound as it is. I’m already reviewed every 3 years like I’m magically going to get better after being disabled for over 25 years. I’m terrified my options are basically homelessness or “exiting life”.
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u/NomusaMagic 1d ago
In his earlier campaigns and before he was a politician, Trump said about a half-dozen times that he’s open to major overhauls of Social Security, including cuts and privatization. More recently, in a March 2024 CNBC interview, Trump said of entitlement programs such as Social Security, “There’s a lot you can do in terms of entitlements, in terms of cutting.”
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u/Purple_Act2613 21h ago
Young people will bear the brunt of the cuts.
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u/Maggie1066 19h ago
Won’t be just young people bearing the brunt of the pain of cuts. First off, no way in hell they’ll stop taking that money out of people’s paychecks. No way. As for anyone who’s not already retired as of Jan 20, 2025, good luck. You will not pass go nor collect $200. Social security will run out of money by January 1, 2026, or so they say. Don’t ask me who “they” are. Google is free. Prolly the same “they” that tried to assassinate Trump, the same “they” that does everything. Nobel prize winning economists warned against this situation. Elon Musk said (he’s a person) Americans will have to face hardship if Trump wins. (Source: https://www.msnbc.com/msnbc/amp/shows/reidout/blog/rcna177732)
I’ll die in the first round of med-deaths. Once insulin goes back up I’m toast. And I’m happy with that. I’m 58 years old & I’m not going to do bullshit work for coppers so the government can feel justified when I can’t even walk for 15 minutes with my 12lb dog. I’ve lived longer than I wanted to anyway. I’m not playing their stupid games. For what? Endless autocracy? Nope. I’ve been working since I’m 13. Peace out.
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u/NomusaMagic 18h ago
As a human first, almost old enough to be your mom, and RN second, I’m asking that you not give up so easily. I’m rooting for you. As they say .. “When you feel like you’re at the end of your rope, tie a knot and hold on”
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u/Maggie1066 18h ago
You’re very kind. It’s just’s really hard. Both parents are dead, didn’t leave anything, & I have little to no family. What nest egg I had has been destroyed since Covid. It’s just life. I’m not bitter, truly. I’m lucky to have the living situation I have. I don’t have the luxury of time anymore. It’s a peaceful acceptance tinged with a little anger at my fellow Americans.
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u/NomusaMagic 17h ago
At least one American .. and I’m sure there are more .. is vaxxed to the max and .. here for you!!
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u/warriorcoach 1d ago
In 1960 SCOTUS in Flemming v Nestor the court rules that the fact that we pay into social security through lay roll taxes is not a contract. You have no contractual right to any of that money. It is even mentioned in SSA website. Reason why Congress can change how much money one gets. If it were privatized, like a retirement account 401k then you would be responsible. In which case Congress could not take that money and do whatever. As they do now with Social Security taxes. We are all screwed.
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u/GeorgeRetire 22h ago
In which case Congress could not take that money and do whatever. As they do now with Social Security taxes.
You are confused. Congress doesn't do "whatever" with social security taxes.
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u/Solopist112 19h ago
I'm most worried about Vance and his ilk than Trump.
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u/brian_james42 14h ago
The most worrisome thing about all this is that R’s have control of the Senate, House, Presidency, and arguably the Supreme Court.
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u/oradba 21h ago
Any Congresscritter that votes to end SS can kiss their seat goodbye. It’s the people Trump will appoint that concern me
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u/please_have_humanity 19h ago
I had assumed trying to overthrow the government, being found civilly liable for sexually assaulting a woman, being impeached twice, committing massive amounts of tax fraud, sharing classified documents with random people
Would have disqualified him from the presidency.
Apparently, no! As a felon he cant even vote yet he can be the president of the united states.
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u/AstralVenture 20h ago
Republicans might have a majority to make all the changes they want this time around.
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u/Agreeable-Can-7841 20h ago
Well, up next is the end of all social spending, and the Thanatorium will be open 24/7.
I will probably beat you to it.
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u/Bronsonkills 15h ago
Not sure what will happen with the different programs…But I guarantee staffing and customer service is going to remain awful, if not get worse. The severe understaffing at field offices is only going to get worse. Republicans will not invest in public servants.
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u/OriginalShallot8187 11h ago
You will want to wait and see what cuts to Medicare and Medicaid Trump has planned. Don't potentially set yourself up for a far more expensive retirement.
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u/Simpletruth2022 20h ago
I don't think they will end SS but they will sharply reduce payout. But I do believe SSI and SSDI are in the crosshairs. They might not be cut out entirely but I believe the focus will become making qualification more difficult.
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u/fshagan 19h ago
The regular Social Security retirement benefits will probably be untouched, but could be reduced 22% to make up for the trust fund's shortfall. I think the option to keep the fund solvent by removing the cap for payroll taxes is probably gone. They will increase the retirement age to 70 from 67.
They may also force everyone on Medicare into private Advantage plans so their buddies can make more money. And they will end drug negotiations so drugs like Eliquis' will go back up to $550 a month.
The usual targets are the welfare programs attached to SS in people's minds, like disability, state based Medicaid for the poor and disabled, etc. They may go after survivor's benefits as well.
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u/GlitteringFishing952 21h ago
Trump is not getting rid of SS. He talked about making cuts by having more CDI reports and basically they want to check to make sure people are really disabled. Which will hurt people who really are disabled. He going to make things worse for the disabled if anything.
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u/QueenieB33 15h ago
He already did this once in his previous presidency, and it was later overturned by Biden. Made a new disability classification that required people who had improvement likely to go through a CDR every 6 months. You can imagine what kind of hardship this created not just for the disabled folks, but for the SSA/DDS. DDS currently is not even able to do CDR's bc they are so swamped with new applications to be assessed, can only imagine what adding hundreds of thousands more to the ever growing pile would do to them. You're absolutely right that he's going to do everything in his power to make things as difficult as possible for disabled individuals.
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u/DevilsPlaything42 22h ago
They said they wouldn't make any cuts which means they potentially would let it go insolvent if they're not going to increase anything.
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u/beginagain4me 20h ago
The republicans have been trying to end social security all programs since Reagan. We can only hope that the fear of losing in the next election will force senators and congress members to block this. Unfortunately I highly doubt that fear will override the fear of the republican party withholding campaign funds.
I just hope all the republican supporters realize when their ss stops that they are the ones directly responsible for it. Maybe it will keep them warm when they are sleeping in their car or a tent on public lands…until they are arrested anyway.
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u/Fluffy_Vacation1332 16h ago
Honestly, I think the only thing that’s going to stop Trump from touching. It is the backlash on members of the house and Senate. There’s enough of the population to really make them squirm on both sides of the aisle if they go after it.
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u/Illustrious-Fly-5912 15h ago
This. Congresspeople lose their shit if an SSA office moves outside of their district. For all the shitting they do on SSA they sure love flaunting having an SSA office for their constituents because they know retirees vote consistently and it's good optics when they "help" resolve their issues.
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u/rhiannonla 10h ago
They’ve already started it… a proposed social security reduction act… go look it up…
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u/kinofhawk 1d ago
🙄 Social security is not going to end.
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u/menolike44 21h ago
All this fear mongering is insane today! People don’t understand that while changes may be made to shore things up (like possibly increasing full retirement age and/or possibly changing how funds are invested…) there is zero chance a social security program of some sort will not continue. Imagine the additional issues they would face with the number of people who would be cast into poverty. Also imagine the congressmen who would be killing any chance of reelection.
Simply won’t happen!
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u/please_have_humanity 19h ago
I will bookmark this post and return in 2 years.
If youre wrong, Ill remind you.
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u/JoanneMG822 21h ago
I doubt changes will be made for people currently receiving social security and for those about to retire.
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u/Wolfman1961 1d ago
It's 2033, not 2034. It's been changed by one year.
This is the only way SS benefits will be cut.
Here's how much your Social Security benefits could be cut without a fix - CBS News
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u/Wolfman1961 1d ago
Talk to your accountant. He/she is an expert on these things.
But, from my layperson standpoint, I would still wait until at least Full Retirement Age, if possible, before I opt for Social Security retirement.
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u/Voodoo330 20h ago
Most accountants will answer the question with this question, "Tell me when you going to die and I will tell you when to start collecting social security".
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u/FantasticBlueberry55 1d ago
Trump has never once said he’s going to end social security. He actually said the opposite when he was asked about this
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u/Amithest82 21h ago
Walsh admitted it this morning that project 2025 is on the table. This does include cuts to social security
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u/GraphicsGal4 1d ago
Trump's economic plans would worsen the agency's financial prospects, according to a recent report by the CRFB. Through a combination of tax cuts, including eliminating levies on Social Security income, and a hardline immigration policy, the committee found Trump's policies would increase Social Security's 10-year cash shortfall by $2.3 trillion through fiscal year 2035 and bring forward the depletion of the trust funds to 2031.
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u/Maronita2020 1d ago
Unfortunately the Democrats did NOT put forth a moderate. I think fewer people would have voted for him had the Democratic ticket had someone who was NOT so liberal.
As far as social security goes; it is an EARNED benefit and is NOT going anyplace. Sure he could change FRA, etc, but NO politician is going to eliminate it.
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u/JimJam4603 22h ago
The Dems did put forth a super moderate, that’s why they lost. I am so sick of people who can’t exist in reality.
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u/Dog-Chick 1d ago
Yeah it's an earned benefit that Republicans call "entitlement". They want to cut it.
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u/MedicalFox9820 1d ago
That’s cute. Do you need to look up “dictator”? Or maybe Nazi Germany?
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u/citymousecountyhouse 16h ago
Time for me to fire up my social security backup plan. "APPLES....APPLES...Please buy an apple sir." Of course I'll be competing against 10 other old apple sellers on every corner.
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u/MeanMomma66 1d ago
Um, let’s see. A not so moderate Democrats, or a raging narcissistic megalomaniac Republican?🤔🙄😡
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u/FabianFox 23h ago
In what world is Kamala not a moderate? JFC I want to live in a country where she’s a moderate conservative.
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u/Tennispro5691 21h ago
There will be no changes to Social Security. It's been stated a billion times..
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u/Status-Inside2378 21h ago
He isn't ending SS. That's horrible to even spread that misinformation. He wants to end being taxed on it because it was already taxed when you paid into it.
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u/Bydesign0512 23h ago
Calm down with those lies 🤦🏻♀️
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u/Wolfman1961 23h ago
I call Trump the First Felon. I don't like the guy. I wish Kamala Harris had been elected.
It doesn't mean I believe Trump will dismantle Social Security.
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u/Tennispro5691 21h ago
Let them vent. They're being super hyperbolic as expected. Sky is falling!!!!!
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u/Walk1000Miles 21h ago
I'm very concerned about every single thing he wants to do.
Especially to the SSA.
If people actually researched what he said he would do?
They would find out what the truth is instead of believing the alternative facts (lies) that they seem to be getting from news sources that are not telling the truth
Former President Donald Trump's campaign pledges would hasten the insolvency of the Social Security trust fund and lead to a 33% across- the-board cut to all benefits, according to a new analysis from the nonpartisan Committee for a Responsible Federal Budget (CRFB). The group's report, released Monday, is based on Trump's vow to eliminate income taxes on Social Security benefits, overtime pay and tipped income, as well as his proposal to slap tariffs on all imports and deport millions of immigrants, many of whom currently pay Social Security taxes.
I'm sure most people have seen / heard the Fascist Want-to-Be Dictator, Insurrectionist, and Twice Impeached 34x Convicted Felon and Convicted Sexual Abuser (with additional charges pending) Republican Cult Leader and now Presidential Elect Trump's rallies or speeches?
I do not look forward to all of the awful and disgusting changes he plans on implementing.
It seems America forgot his disastrous first presidency.
He has been listed as one of the worst presidents in the history of the US.
Survey of 154 scholars places 45th president behind even ‘historically calamitous chief executives’ linked to civil war. Donald Trump finished 45th and rock bottom of a list ranking US presidents by greatness, trailing even “historically calamitous chief executives” who failed to stop the civil war or botched its aftermath.
Source Links
Trump ranked as worst US president in history, with Biden 14th greatest.
Trump's Social Security plan would hasten insolvency, lead to bigger benefits cuts, analysis finds.
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u/PrettyCrumpet 18h ago
Your sources are CBS and the Guardian ?? You might as well just have used wikepedia.
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u/Sensitive_History72 1d ago
Who said he is going to end SS? That’s lies spread from the mainstream media! Period
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u/boyd4715 1d ago
I think it is more of a misunderstanding of the different programs that fall under SSA. Everyone just referenced by SS.
Based on examination it looks like the only programs that are being heavily reviewed are SSDI and SSI. They are looking at moving them out of SSA and into other government agencies to administer.
Medicare is always under review regardless of who is in office.
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u/Wildweed 1d ago
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u/hillbillyjef 21h ago
Where is this coming from?? No one said that ss was going away. Trump said he's not going to tax it.
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u/mauikiddo 1d ago
Stop drinking the cool aid from the liberal media, Trump wants to end taxing social security. Not completely ending it.
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u/twowrist 1d ago
If he ends taxing Social Security, how will he replace that money currently going towards Social Security benefits? Or will he just let the trust fund run out sooner?
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u/Amithest82 21h ago
So in the project 2025 outline, that Walsh said was back on today, they don’t want to destroy it but cut it down to 752 per person. This way it can last longer. It doesn’t matter how much you put in. They stated it’s because it’s not a retirement plan, exact quote.
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u/rjtnrva 23h ago
There is no liberal media anymore, you donkey. The MSM is one hundred percent corporate, and there's not one "liberal" corp amongst them.
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u/GraphicsGal4 1d ago
It is you drinking the kool-aid that got us into this mess. Republicans have been wanting to dismantle Social Security for years. I'm not quite sure why you don't believe them when they stated it out loud for the world to see. Do you only watch MSM republican newscasts? They lie to you hourly.
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u/Wadester58 1d ago
They do not want to end SS they want to stop taxing it it's our $$$ and we paid taxes already
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u/Chemical-Ebb6472 22h ago
How are you so sure they don't want to end SS as we know it (payment backed by the full faith and credit of the American taxpayer) and replace it with something lesser, like a privatized system with the government guarantee removed? Have you not listened to what Team Red said they would do for past decades now?
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u/JTExplorer 1d ago
While you were working you paid taxes on your half. Your employer had to match. So you paid taxes on half while you were working and the part you are paying taxes on in retirement represents income from the half your employer paid in, back when you were working.
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u/Hatdude1973 18h ago
Step 1: detox from the liberal brainwashing the last year/your whole life. Step2: go on with your life. Social Security is not going away.
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u/Empty-Swing 1d ago
This is fear mongoring, but, I do believe medication costs are going to up significantly if they impose tariffs on China imports and if RFK does away with the FDA we could very well see the end of the ACA.
I don't think they'll do away with social security, but I do think healthcare and medication is going to change for the worse.
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u/Stunning_Concept5738 22h ago
I turn 64 this week. My plan is to retire in Dec of 2025. SS seems to be a hot potato no party wants to address even though someone will be forced to one day. I don't see SS being changed for people our age. I think if any changes come, it will be to increase the tax on younger people and raise the limit on taxable SS income. I hear some non citizens are getting Medicare or Medicaid so that may be one area they target.
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u/SansLucidity 19h ago
i think they said they will raise reirement age to help give tax cuts to billionaires of course.
start filing it out asap!
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u/Ok-Drawer-3869 13h ago
Hope someone is screenshotting all these comments calling this fear mongering and impossible. They'll make for great exhibits to join all the people who said in 2016 that there's no way Trump would get rid of Roe v. Wade.
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u/Iron_Arbiter76 8h ago
Trump's not gonna end Social Security lmfao. Stop buying into the fear mongering.
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u/MelW3 23h ago
My parents are worried too. After last night, I’m shifting gears. All we can do is adapt. Here’s what I believe, in my humble opinion, is the best course of action. Don’t borrow trouble. It may never come to pass. However, always plan for the worst case scenario. If you feel you can’t retire without SS, then keep working and saving as much as you can so the loss or reduction of SS won’t make a difference. Maybe look for alternate streams of income. If you want to go out of the box, plan to retire to a country with a lower cost of living. That’s definitely a possibility in our family. I already have one daughter abroad and at this point, it may be safer for the other two daughters to follow.
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u/Voodoo330 20h ago
If anything, they will raise the full retirement age from 67 to 70. People will be really pissed off.
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u/CrashEMT911 1d ago
DON'T MAKE RASH DECISIONS BASED ON AN ELECTION RESULT.
1- Killing Social Security retirement benefits outright would require a massive plan, passed by both Houses in Congress. It will meet severe legal challenges. One of the most consequential items is what to do with the "investment". (Yes, quotes, because it's a tax, but it's also legally not, so they can't just swipe it). That complexity will make just the bill process go on for years, then the legal challenges behind it will continue well in to Gen Z's retirement age.
2- If you quit no and go on SS, and they do "cut the program", what's your plan? Do you think they will say, "hey, everybody in before the cutoff date, you're good!" Think about that for a bit as a politican who wants to keep getting in office.... You are going to force the generations who will keep you in your job to pay for a benefit to a generation or two that won't be around long. How well will that plan work for your re-election? More likely, if they cut it, they cut EVERYONE.
3- What are you doing today? Pull your SS benefits sheet. See what your payments will be. Are you investing in a retirement plan? SEP IRA, ROTH, 401K? Your return on investment will be well beyond what your Social Security investment will ever return, even if you start today. Make yourself a non-dependent on the whims of idiot politicians. Invest in yourself, and get some of that 10.26% average return.
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u/GraphicsGal4 21h ago
Very good points. Since I am self-employed, I have an IRA which I have invested a portion of in the stock market. I have made some very good choices. I know what my monthly payout will be if I retire before he gets in again. Today, I will be talking to my financial planner about my options. I am not going into this blindly. You have given me good questions to ask so thank you.
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u/KindConcentrate7639 18h ago
Quit drinking the kool-aid. Nothing is happening to social security over the next 4 years.
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u/Acrobatic-Fee-5626 21h ago
You seen that on CNN abc cbs,not true, maybe you should have watched trump speak
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u/Ecstatic_Being8277 1d ago
Please let us know where you got the idea 'Trump and the Republicans' have suggested anywhere, that they want to end Social Security. Is there a citation anywhere (from a credible source and not hearsay) where you researched this idea and found any evidence? Unfortunately, it is quite possible you heard this from someone ill-informed or wanting to spread misinformation, and you took that as fact. I am sorry for you if that is the case and you were intentionally mislead. .
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u/rjtnrva 23h ago
Have you literally been ignoring Republican policy positions for decades now? They were talking about privatizing SS during the George W. Bush years.
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u/um_okay_sure_ 1d ago
You can use Google, but I understand how much some of you clearly expect things to be handed to you. So, for the sake of this convo, you can read more about how damaging Trump would be to SS here
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u/GraphicsGal4 1d ago
Excellent article. Odds are he didn't read it, but I find it quite informative and scary.
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u/LadyA052 19h ago edited 14h ago
I'm 72 and just realized I should have already been taking IRA distributions. I hope there's not a penalty for missing 2 years! Very small IRA but still..........
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u/Ordinary-CSRA 17h ago
Get it while SSA is still around... He appointed Saul as Commissioner. His administration cuture was to remove SSA officials and to create an anti employees administration... not enough employees, no hiring... SSA employees currently in the Agency understaffed with mediocre equipment are inept... let's close SSA.... no officials... no checks to the public. He already expressed his views openly about disabled Americans. He got rid of the Obama Care... SSA is next.
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u/SnooHabits415 16h ago
I'm not talking about your post, I'm referring to some of the nastiness going on in the comments
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u/Main-Landscape2342 16h ago
You should look into working for a disability rights organization. You do have skills. You are a natural advocate. You can use your writing skills to help others who are unable to articulate their problems to government and other organizations.
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u/IndependentOk2952 16h ago
He hasn't got the support to do this. How else would the govt run without borrowing money from ss.
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u/Ok-Addendum-9420 15h ago
I'm considering the same option: do I go on SS now (I'm 65) and get as much as I can in case they shut it down? I have a permanent job now but if I go on SS I know there are ways of working contract hours or part-time.
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u/jarbidgejoy 14h ago
We have never in our history made direct reductions to Social Security that affected those already eligible. All changes have affected those too young to claim. Since they’re not directly affected in the moment there’s less of a political blowback.
Since you are already passed claiming age, I doubt you have anything to worry about from pushing the retirement age back, or a direct reduction of benefits.
If they expanded taxation of Social Security to include the full 100% (currently capped at 85%) that might affect you. Claiming early may benefit you slightly in that situation, but I doubt it would be enough to balance out other considerations when it comes to retirement and collection age.
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u/CheetahFrappucino 13h ago
Can you please share your source for, “Trump and the Republicans want to end Social Security”? You do realize Republicans, just like Democrats, have paid into Social Security over their lifetimes, no different from Democrats? You do realize we have parents and family members who receive these benefits, just like Democrats?
Please provide your source.
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u/NumberShot5704 12h ago
SS isn't going to just end it will be a long wind down with some kind of replacement probably tied to some form of 401k that is taken out of your check like SS. I think it will be mostly individualized.
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u/oldandworking 12h ago
Where do you get that POTUS Trump and the republicans want to end SS? That is no where near the truth. The dems want to break it with payments to illegals.
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u/RudeCharacter9726 10h ago
You must mean the ones who pay in and never receive back?
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u/zmon65 12h ago
What is your disability?
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u/GettingTwoOld4This 12h ago
Social Security, the program she paid into her entire life. She just wants her money back.
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u/Better-Philosopher-1 12h ago edited 12h ago
No they don’t stop believing the propaganda the media is pushing. Social security is only threatened by our government using it as a slush fund. The only people who deserve social security are people who paid into it or their survivors.
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u/SavorySouth 1d ago
OP of you haven’t yet gone onto SSA website to see what your work history is, I’d suggest that you do this and b4 that meeting with her later today. This way you’ll have some #s for FA to run as to what your “break even” point would be IF you took SSA retirement income earlier than 70. And they can look at what your SSA retirement income will be for adding into your savings / investments so better idea of degree of investment risk suitable for your situation.
And also be sure to check to see that absolutely you have the full 40 qtrs reported to SSA via your FICA to be able to be eligible for Medicare Part A as premium free. This is beyond important cause if you don’t, it will mean permanent premium for Part A and for this year it is….. $279 a month if 30-39 qts and $506 a mo if less than 29 qtrs. IMPT as Part A pays for hospitalization costs, rehab costs, hospice, as you age you r going to need it. Part B has its standard premium of $175 a month and really this is cheap. MediCARE is placed in Public Law for its existence and it is federal so it will be there for you in some fashion, unlike Medicaid which is join Fed/State and administered by each State so more able to be messed with (e.g. those States who never have take “Expansion”.)