Regular readers of NORA will know we talk a lot about Social Security’s future.
It’s our mission to inform our audience and make the case for fair yearly Cost-of-Living Adjustments (COLAs). There’s a lot in the news about the future of retirement, and much of the news is bleak.
Recent reports state that Social Security’s insolvency could be approaching faster than once anticipated. We’ve covered this as well, including the exact amount retirees could lose. But it’s not all doom and gloom. While we have covered the worst-case scenario, we also want to look on the bright side.
What’s the absolute best-case scenario for the future of this crucial program?
Here’s the Optimal Outcome for Social Security’s Future
The big fear about Social Security currently is the possibility of benefit cuts. Many Americans worry about their ability to retire comfortably. This is because of the program’s history of problems, and the difficulties of the current economy.
But what if things go in the other direction? While we as retirees and future retirees can’t exactly control the direction of the economy as a whole, we can push Social Security in the right direction.
Specifically, we can make our voices heard that benefit cuts aren’t the answer — and neither is inaction. Instead, the ideal outcome for this program is for it to be prioritized, with yearly adjustments based on inflation. Seniors are also owed for years skipped.
Given that the 2024 COLA is projected to be small or potentially even non-existent, we should all be focused on using our voices to drive change. Social Security’s future shouldn’t involve cuts, uncertainty, or confusion. Given how we’ve all faithfully paid into the program, benefits should be paid in full and adjusted fairly. This is the only outcome that makes sense — will you help us bring it about?
Sign our petition to make fair yearly COLAs a reality, and to ensure seniors are reimbursed for years skipped. You can also follow us on Facebook and Twitter to join in on the efforts to secure this program for future generations!
