In 1983, Social Security was weeks from insolvency; Congress raised the retirement age to 67, taxed benefits, and not one check bounced.
A rumored 23% benefit cut requires no vote because Social Security legally cannot borrow, meaning checks automatically shrink if Congress misses the deadline.
Orman urges listeners to downsize, extend car life, and save aggressively now, treating any future Social Security check as a bonus, not a foundation.
Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don't waste another minute; learn more here.
Suze Orman opened a recent segment of her Women & Money podcast by reaching back to the last time Social Security stared down insolvency. Her words on that 1983 crisis: "Social Security was weeks, not 6 years away from not being able to pay full benefits. Congress fixed it. They raised the retirement age. That's when it went from 65 to 67, everybody. They taxed some benefits. They moved money around. And it was ugly. It was late, but they did it and not one check bounced."
#security
A rumored 23% benefit cut requires no vote because Social Security legally cannot borrow, meaning checks automatically shrink if Congress misses the deadline.
Orman urges listeners to downsize, extend car life, and save aggressively now, treating any future Social Security check as a bonus, not a foundation.
Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don't waste another minute; learn more here.
Suze Orman opened a recent segment of her Women & Money podcast by reaching back to the last time Social Security stared down insolvency. Her words on that 1983 crisis: "Social Security was weeks, not 6 years away from not being able to pay full benefits. Congress fixed it. They raised the retirement age. That's when it went from 65 to 67, everybody. They taxed some benefits. They moved money around. And it was ugly. It was late, but they did it and not one check bounced."
#security
14 hours ago
