When Will Social Security Run Out of Money?

The 2025 Social Security Trustees Report projects the Old-Age and Survivors Insurance Trust Fund will be depleted by early 2033, leading to a 23% benefit cut unless addressed. The Medicare Hospital Insurance trust is also expected to be depleted by 2033 due to rising hospital costs. Declining worker-to-beneficiary ratios and a wage base not keeping pace with top incomes drive these issues. Proposed solutions include raising the full retirement age, adjusting the wage cap, increasing payroll taxes, means-testing benefits, and investing trust funds in equities.