Will Social Security Run Out of Money? Expert Explains. Is Social Security Really Running Out? Social Security 2033: Trust Fund Depletion Explained – What Changes Are Coming and How to Prepare: In this video, financial advisor Amy Shepard of Sensible Money joins FinStream TV Co-Founder Bob Powell to explain why Social Security won’t disappear despite the projected 2033 trust fund depletion. While scary headlines suggest the program will “run out,” the reality is that ongoing payroll taxes would still fund 75-80% of benefits even without the surplus fund.
Drawing on historical precedent from the 1983 reforms, Shepard predicts likely changes including gradual retirement age increases for younger generations, elimination of the $168,000 payroll tax cap for high earners, and expanded benefit taxation. Political realities suggest Congress will wait until the crisis becomes unavoidable around 2030-2033 before implementing reforms.
The discussion covers how dramatically increased life expectancy since 1940 has strained the system, why complete program elimination remains politically impossible, and how potential changes will affect different income levels differently.
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