Social Security Cuts Could Cost You $138K: Here’s How Much More You’ll Need To Save

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':"";if(a){var r=n.promos.showYahooLogo?"":"yns-no-logo";a=a.replace("{notifOnboardBtnLabel}",n.promos.notifOnboardBtnLabel).replace("{notifOnboardMsg}",n.promos.notifOnboardMsg).replace("{subscriptionTopic}",n.promos.subscriptionTopic).replace("{noLogoClass}",r).replace("{promoLogo}",n.promos.promoLogo)}var s=t.newCount>n.panel.maxCount?t.newCount:"",c=n.panel.notificationCenterPath,l=c?"":P,u=n.panel.headerMsg?"":" "+P,d=c?R:"",p=void 0;t.count?p=t.markup:p='{emptyPanelMsg}'.replace("{emptyPanelMsg}",n.panel.emptyPanelMsg);return e=e.replace("{notifMarkup}",p).replace("{promoMarkup}",a).replace("{hideClass}",l).replace("{notifCenterLink}",c).replace("{paddingClass}",d).replace("{headerMsg}",n.panel.headerMsg).replace("{hideHeaderClass}",u).replace(/{notificationCenterNavMsg}/g,n.panel.notificationCenterNavMsg).replace(/{newCount}/g,s)}},{key:"render",value:function(e,t){var n=this;if(n._panelNode){var o=void 0,i=n._panelNode,a=void 0,r=void 0;switch(e){case"expanded_panel":o='{promoMarkup}{notifMarkup}',r=n._store.getNotifications(),a=n._generatePanelMarkup(o,r),i.innerHTML=a;break;case"error_panel":a=(o='{errorMsg}').replace("{errorMsg}",n._config.panel.errorMsg),i.innerHTML=a}t&&t()}else t&&t(new Error("No panel parent"))}},{key:"createPanelParentNode",value:function(e){e&&(e.innerHTML='',this._panelNode=document.getElementById(D))}},{key:"updateBadgeNode",value:function(e){if(e){var t=this._store.getNotifications().newCount,n=this._config.badge.maxCount;if(t){var o=t>n?n+"+":t;e.innerHTML=o}else e.innerHTML=""}}},{key:"addStyles",value:function(e){if(e&&"undefined"!=typeof window){var t=document.getElementById(this._config.panel.styleTagId);t||((t=document.createElement("style")).type="text/css",t.id=this._config.panel.styleTagId,t.innerText=e,document.head.appendChild(t))}}}]),e}(),U=function(){function e(t,n,o){L(this,e);var i=this;i._store=n,i._view=o,i._config=t;var 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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Gabrielle OlyaThu, Jul 10, 2025, 12:00 PM 3 min readIf Congress doesn’t act soon, millions of Americans could see their Social Security benefits reduced within the next decade. According to the 2025 Trustees Report, the Old-Age and Survivors Insurance (OASI) Trust Fund will be able to pay 100% of total scheduled benefits until 2033, after which point benefits would be cut by 23%.Find Out: How Much the Average Upper Class Retiree Claims in Social Security Benefits at Age 65Read Next: 10 Cars That Outlast the Average VehicleIf benefits are reduced, it will be up to the individual to make up the difference. A 23% cut would require $138,000 in additional savings to generate the same income, based on the widely accepted 4% retirement withdrawal rule, a new PensionBee analysis found. That’s a steep ask, especially for those nearing retirement. But the earlier you start preparing, the more manageable it becomes.Here’s how the additional $138,000 in required savings breaks down for workers who will be retiring after 2033.The PensionBee analysis broke down how much extra workers of all ages would need to set aside each month to save an additional $138,000 by the time they retire, assuming a retirement age of 67 and 5% investment returns:Age 25: $67/monthAge 35: $121/monthAge 45: $238/monthAge 55: $701/month“Those nearing retirement are in a worse position to offset cuts, but there are tangible ways to buffer the potential impact,” said Romi Savova, founder and CEO of PensionBee.Learn More: Social Security Full Retirement Age Went Up This Month — Why It May Continue To RiseSavova recommended that Americans who are approaching retirement take advantage of catch-up contributions, which allow people ages 50 and over to contribute an extra $7,500 to their 401(k). Starting this year, Secure 2.0 also allows those ages 60 to 63 to make “super catch-up” contributions of an additional $11,250.“Some Americans may choose to delay retirement, which gives more time to save, pay down debt and allow investments to grow,” Savova said. “You can also consider drawing from personal retirement savings first while delaying Social Security benefits, which increases your monthly payout by about 8% for each year you wait past full retirement age until the age of 70.”Whether you’re 25 or 55, now is the time to take an active role in your retirement planning.“If you’re not already saving for your retirement, consider this your wake-up call,” Savova said. “The longer your money is in the market, the less you’ll need to contribute to make up for lost benefits, so it really makes sense to save as much — as early — as you can.”Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,265.22 -15.24 (-0.24%)Dow 3044,383.46 -267.18 (-0.60%)Nasdaq20,634.65 +3.99 (+0.02%)Russell 20002,241.09 -22.32 (-0.99%)VIX16.20 +0.42 (+2.66%)Gold3,366.60 +40.90 (+1.23%)PortfolioSign in to access your portfolioSign inTop gainersINKT MiNK Therapeutics, Inc. 64.33 +56.60 (+732.17%)NEGG Newegg Commerce, Inc. 44.25 +15.52 (+54.49%)VNET VNET Group, Inc. 7.92 +0.95 (+13.56%)NEXT NextDecade Corporation 10.38 +1.17 (+12.70%)KTOS Kratos Defense & Security Solutions, Inc. 51.73 +5.46 (+11.80%)Top losersTMDX TransMedics Group, Inc. 114.39 -10.39 (-8.33%)RUN Sunrun Inc. 10.00 -0.88 (-8.05%)BHF Brighthouse Financial, Inc. 48.66 -3.47 (-6.66%)OSIS OSI Systems, Inc. 214.32 -15.66 (-6.81%)BYD Boyd Gaming Corporation 80.56 -4.81 (-5.64%)Most activeNVDA NVIDIA Corporation 166.13 +2.03 (+1.24%)NIO NIO Inc. 3.8700 +0.1800 (+4.88%)SOFI SoFi Technologies, Inc. 21.75 +0.78 (+3.72%)AAL American Airlines Group Inc. 12.42 -0.52 (-4.06%)TSLA Tesla, Inc. 310.79 +0.92 (+0.30%)Earnings eventsTrending tickersINKT MiNK Therapeutics, Inc. 63.99 +56.26 (+727.81%)NIO NIO Inc. 3.8699 +0.1799 (+4.88%)XRP-USD XRP USD 2.79 +0.30 (+11.86%)AMC AMC Entertainment Holdings, Inc. 3.2981 +0.2981 (+9.94%)KTOS Kratos Defense & Security Solutions, Inc. 51.73 +5.45 (+11.79%)Top economic events