Jun 12, 2025
Americans are growing increasingly worried that Elon Musk and the Department of Government Efficiency (DOGE) may be taking a metaphorical chainsaw to their retirement safety net.
A recent survey conducted by Clever Real Estate between March 5 and 9 found that 85% of U.S. adults are concerned about potential changes to their benefits, while 68% are worried about the future of the Social Security Administration (SSA).
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Gallup also found that fears surrounding the system’s future have recently reached a 15-year high.
Unsurprisingly, seniors who are already retired or approaching retirement are especially concerned. Roughly 73% of baby boomers — those born between 1946 and 1964 — told Clever Real Estate they were worried that the SSA’s ongoing austerity measures could impact their financial future.
Although only 55% of millennials share these concerns, changes to the Social Security system impact all taxpayers. That’s because 94% of American workers contribute to the pot every year, according to Rep. John Larson.
With that in mind, here are three simple money moves that can help shockproof your retirement income.
1. Monitor everything
With so much in flux, it’s easy to miss some major developments from the Trump administration or lawmakers on Capitol Hill.
Unfortunately, staying up to date may become a little more difficult. According to MarketWatch, the SSA is reportedly considering moving its public announcements from its official website to Elon Musk’s social media platform, X.
To stay informed, consider setting up an account on X if you haven’t already. You should also regularly log in to your Social Security account to monitor your earnings record and get benefit estimates. Setting up news alerts on your phone or email is another simple way to stay in the loop.
Frequently monitoring changes to the system can give you the time and flexibility to adjust your long-term financial plan and better protect your retirement income.
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2. Wait for FRA
The age at which you begin collecting Social Security can significantly impact your monthly benefits.
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While you're eligible to start receiving benefits as early as age 62 — provided you've paid into the system for at least 10 years — doing so means your benefits will be permanently reduced.
To receive your full benefit amount, you'll need to wait until you reach your full retirement age (FRA). For anyone born in 1960 or later, the FRA is 67. Claiming benefits before this age result in smaller monthly checks, while delaying benefits beyond it — up to age 70 — can increase the amount you receive.
You can’t control potential changes to the Social Security system, but you can control when you start collecting benefits — making this one of the most powerful levers you have to maximize your retirement income.
3. Plan with an expert
Working with a financial professional can help you stay prepared for any changes to Social Security and build a solid plan around them.
Financial professionals are more likely to stay in the loop on the latest developments and are better equipped to explain how those changes could affect your personal finances.
According to Edelman Financial Engines, 52% of American adults believe they’re missing out on tax savings and benefits due to a lack of knowledge about sophisticated tax strategies. Nearly 45% said they would need professional help to properly plan for retirement.
Some of these strategies may take years, or even decades, to reach their full potential.
Even small tax savings today can lead to a significant boost in retirement income over time, especially if you have years left to let your investments grow. With that in mind, it’s a smart move to connect with an expert as soon as possible.
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Vishesh Raisinghani is a financial journalist covering personal finance, investing and the global economy. He's also the founder of Sharpe Ascension Inc., a content marketing agency focused on investment firms. His work has appeared in Moneywise, Yahoo Finance!, Motley Fool, Seeking Alpha, Mergers & Acquisitions Magazine and Piggybank.
