More than half (56 percent) of Americans surveyed in a new analysis from Nationwide Financial agreed that they would “not be able to survive” if they even lost half of their monthly Social Security payment.
The survey showed that beneficiaries are having a hard time making ends meet, with 52 percent saying they have cut back on discretionary spending (dining out, traveling, etc.) and nearly one in five saying that it’s more difficult to manage or access their benefits this year.
Americans are also growing more worried about the longevity of earned benefits, with more than 80 percent of those surveyed saying that they’re concerned about the future of Social Security.
The latest Social Security Trustees Report shows that the Social Security Trust Fund will be able to pay full benefits and expenses until 2033, but will only be able to pay out 77 percent of benefits after that point if Congress does not act.
“Older Americans rely on the Social Security benefits they’ve earned. They should not have to worry about whether they will be able to access those benefits and/or whether they will receive the full amount,” said Richard Fiesta, Executive Director of the Alliance. “We could actually avert this impending crisis and strengthen benefits if millionaires and billionaires just paid their fair share.”
TAKE ACTION: Tell Congress to strengthen Social Security by making the wealthy pay their fair share.
This was originally published in the September 12, 2025 edition of the Friday Alert. Read the full length version and see other Friday Alert editions here.
The post Report: Social Security Benefit Cuts Would Be Devastating for Americans appeared first on Retired Americans.