Social Security at 90: Popularity Soars, Confidence Wanes

According to a new AARP survey, as Social Security nears its 90th birthday, support for the program remains virtually universal—96 percent of U.S. adults now call it important, and 74 percent rank it among our nation’s most critical programs, up from 68 percent in 2020 . Yet only 36 percent feel “very or somewhat confident” that the program will be there when they retire—a seven‑point drop since 2020 . This gap between overwhelming popularity and waning confidence underscores both the system’s strengths and the challenges ahead.

A complementary Pew Research Center analysis paints a fuller picture of Social Security’s reach and funding dynamics. “Nearly every working American pays Social Security taxes, and more than 55 million people receive retirement benefits through the program,” notes Pew Pew Research Center. In April 2025 alone, 73.9 million individuals drew benefits (including 52.6 million retired workers, 7.2 million disabled workers, and over 7.4 million Supplemental Security Income recipients) Pew Research Center. Meanwhile, funding comes primarily from a dedicated 12.4 percent payroll tax—split evenly between employers and employees—with 85.5 percent of revenues directed to retirement and survivors’ benefits and the remainder to disability programs Pew Research Center.

Yet the system faces a looming cash crunch: Pew’s “intermediate” projection has the retirement trust fund depleted by the end of 2033—forcing benefits to be paid at only about 79 percent of scheduled levels absent legislative action Pew Research Center. And though interest on Treasury bonds and income‐tax revenue on benefits bolster the coffers (the program brought in $1.35 trillion in 2023), annual outflows have exceeded inflows since 2021, creating a widening gap that could reach $414 billion by 2033 without reform Pew Research Center.

“This data underscores the dual reality our clients face: fierce loyalty to Social Security, coupled with real anxiety about its future,” says Travis Stanley, President of NSSA. “Our job is to transform broad public support into concrete financial plans—stress‑testing for potential benefit reductions and helping clients maximize every dollar they’ve earned.”

Key Takeaways & Action Steps for Advisors

1. Frame the Popularity–Solvency Paradox. Remind clients that while 79 percent of Americans oppose any benefit cuts Pew Research Center, long‑term funding pressures are real. Acknowledge emotion, then pivot to solutions.

2. Explain Funding Mechanics. Detail how the 12.4 percent payroll tax and interest on Treasury bonds finance benefits, and how SSI and other programs fit under the SSA umbrella—so clients grasp both pay‑as‑you‑go realities and trust‑fund redemptions Pew Research Center.

3. Stress‑Test Plans with Conservative Assumptions. Model retirement scenarios assuming 80 percent of scheduled benefits to guard against a possible 19 percent cut if Congress delays action. Incorporate sensitivity analyses for varying depletion dates (2031–2033) and demographic shifts reducing the worker‑to‑beneficiary ratio from 2.7 today to as low as 2.1 by century’s end Pew Research Center.

4. Highlight Maximization Strategies. Showcase how delayed claiming (up to age 70), spousal‑benefit coordination, and strategic Roth conversions can boost lifetime income and offset potential shortfalls.

5. Engage Clients in Policy Advocacy. Encourage clients to add their voices—via letters or petitions—supporting measured reforms (e.g., modest payroll‑tax adjustments, calibrated retirement‑age increases) that shore up solvency without undermining benefit integrity.

“With nearly 56 million retirees depending on Social Security and trust‑fund depletion looming, advisors must lead with clarity and confidence,” adds Jim Blair, Founder of NSSA. “By combining realistic benefit projections with claim‑timing strategies, we can help clients secure a dignified retirement—even if legislative reforms are delayed.”

By weaving AARP’s sentiment data with Pew’s demographic and funding analysis—and pairing them with NSSA’s strategic guidance—you can convert widespread affection for Social Security into informed confidence, helping every client navigate the complex path to a secure, dignified retirement.