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While the U.S. government continues to brag about its historic tax cuts (1), it’s staying conspicuously quiet about the impact of its policies on Social Security.

Social Security’s Old-Age and Survivors Insurance (OASI) Trust Fund is on track to be depleted by 2032, according to the Congressional Budget Office (2). That deadline has been pulled forward a year from the CBO’s last projection and two years from its 2024 outlook, per 401(k) Specialist (3).

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Part of the reason for this accelerated timeline is President Donald Trump’s signature One Big Beautiful Bill Act (OBBBA), according to the Committee for a Responsible Federal Budget (CRFB) (4). Simply put, this historic wave of tax cuts has reduced the revenue the government collects and has tightened the deadline for the trust fund’s depletion.

Unless the government acts swiftly to reform the system, all beneficiaries could face an automatic 24% benefit cut on average, based on analysis by the CRFB (5). According to their estimation, a typical retired couple could face an $18,400 cut in annual benefits.

There isn’t much you can do, at least on an individual level, to shape government policy or avert this financial cliff. But you can prepare your retirement plans for any eventuality.

Here are two ways workers and retirees can protect themselves before it’s too late.

Bolster your independent safety net

With the public safety net facing an uncertain future, boosting your own safety net could cover some of the potential gaps.

Expanding your savings and investments strategy to focus on long-term growth could be the right approach to ensure a comfortable retirement, regardless of what happens to Social Security.

You could also consider looking beyond the traditional stocks-and-bonds portfolio to add alternative assets like gold and fine art.

For exposure to gold as part of a broader inflation-hedging strategy, a gold IRA from Goldco lets you hold physical gold and other precious metals while still keeping the tax advantages of a traditional IRA.

Goldco is considered one of the top players in the space, holding a 4.8/5 rating on Trustpilot and an A+ from the Better Business Bureau. The company also runs a guaranteed buyback program, committing to repurchase your metals at the “highest price” based on market value should you decide to sell down the road.

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