GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
Here are sixthings retirees should worry aboutwith DOGE looking into the Social Security Administration.
But they should also be watchful of any changes to ensure that their benefits are not improperly impacted.
According toAARP forums, retirees arent championing the changes.
Therefore, it is the most inefficient and dangerous way to make cuts.
Future Cuts
Despite DOGEs investigation, Social Security benefits for current retirees remain unchanged.
However, Winegarden said without fundamental reforms, benefits could be cut within the next decade.
Promises to protect Social Security by not touching it are simply promises to enact a future across-the-board-benefit cut.
Without policy changes, Social Security could struggle to pay full benefits in the future.
This change and other potential changes could generate a windfall and relieve insolvency concerns.
Improper Benefits
While DOGEs investigation targets inefficiencies, retirees should still actively track their benefits.
He added that the DOGE investigation could stop retirees from receiving improper payments.
But that is what should happen, Winegarden said.
For retirees receiving their proper payments, the efforts will not impact their designated benefits.
It is important to be aware of your current benefits and watchful to ensure that the proper payments continue.
Doing so now will help them be prepared to reduce their spending.
More From GOBankingRates
Share This Article:
