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AUTHOR: DAN SMITH on 12/26/2025

Recently I wrote that the potential for long term care (LTC) expenses was my main financial concern. There’s another concern in hot pursuit. 

Not many years ago, I was certain that funding to maintain current Social Security (SS) benefits would be secured. After all, no politician concerned with their job security would let the trust fund run dry. Right? I don’t know about you, but I’m losing hope. There are bills in each chamber regarding SS, however, I’m not hearing about any action. 

I think that if SS plays a significant role in your budget, it would be wise to plan for a 30% reduction in 2032, the year that insolvency is being predicted. 

Democrats and Republicans each have their own proposals on SS, a simple call to action from you and I is non-partisan. My New Year’s resolution is to write to my congressman and senator monthly until we see some action on this issue. Unlike voting, you can send as many letters as you like.

Actually a phone call is better.