June 13, 2026
I have some slightly good news but also some bad news about the future of Social Security, and this is going to impact every single American citizen watching this video right now, so you may want to pay attention.
Let’s start with the good-ish news. According to the latest report released from the Social Security Trustees, things haven’t technically gotten worse for Social Security since last year. But they’re not great and certainly not getting better.
According to the Annual Financial Status Report for the Social Security Trust Fund, which is the pot of money that helps fund Social Security for more than 70 million Americans, by 2032 Social Security will become insolvent.
Now, before you panic, that doesn’t mean you will get zero. That means this report is estimating in 2032 Social Security recipients will receive 22 percent less in their Social Security check than beneficiaries who receive Social Security today. So basically, there’s not enough money in the fund, so they have to reduce payments for everyone.
But why?
Well, there are a whole host of reasons, which we’re going to get into in this video. But also, I’m sure you’re wondering, what will that look like for you?
I’m glad you asked because a government watchdog group who tracks this stuff put together a handy little interactive map which shows you exactly how much less you’ll see in your Social Security check in just six years.
We’ll get into that in this video too.
But before we do, I want to thank my paid FactsHQ subscribers for overwhelmingly voting for this story as the bonus this week. If you want to vote on next week’s bonus story and get some other cool perks from me, make sure you follow these easy steps and become a paid subscriber.
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OK, so let’s start with a quick simple explanation for how Social Security works.
Social Security receives money from your paycheck and everyone else’s paycheck, but that’s not enough to cover everyone who qualifies for the program, so the Social Security Trust Fund was created to supplement those payments.
But that trust fund has been tapped for so long that it’s running low, and by law, once that trust fund is tapped out, Social Security can only pay out what it receives in revenue — also known as your tax dollars.
So every year the Social Security Trustees give us a status update of that trust fund. And this year they said if nothing is done, in the fourth quarter of 2032, that trust fund will be tapped out, so based on only projected tax revenue, Social Security will only be able to pay out 78 percent of benefits to eligible recipients.
Now, there’s a very important note I want to make about the Social Security Trust Fund. Last year’s Trustee Report found that the Social Security Trust Fund would be insolvent by 2033. But in August of last year, the Social Security office sent this letter to Congress saying because of the Big Beautiful Bill and all the tax cuts in it, revenue into the Social Security program will be reduced, so they had to speed up Social Security Trust Fund insolvency from the year 2033 to 2032.
For the record, this new report says the Disability Insurance Trust Fund, which pays benefits to workers with qualifying disabilities, is in much better shape. The report says those receiving disability payments will get 100 percent of their benefits for the next 75 years.
So why is Social Security going to be insolvent? What about all that money coming out of my paycheck every two weeks?
Well, as I have reported, that money coming out of your check isn’t put into a special savings account just for you when you retire. That money you pay into the system today is paying for the people who are currently receiving Social Security.
The idea, in theory, is when you reach retirement age and start collecting your benefits, the younger people will be paying for you.
Now there are several problems with that system.
One, people are living much longer than previous generations, and that means Social Security is having to pay for them for longer.
Two, there are fewer babies being born, and that means there will eventually be fewer people paying into the system.
Three, there is also declining immigration, which means fewer workers paying into the system right now. Yes, working immigrants pay into Social Security even though they may never see a penny from the program.
And four, Congress keeps cutting taxes so less money goes into the Social Security system, and because none of the solutions to fill that revenue hole are popular, Congress has sat on its hands and done nothing.
Now, there are some bipartisan options floating out there from Congress to fix this, and I did a whole video about it which I’ll send to you in my FactsHQ email if you’re interested. Just make sure you sign yourself up.
But Social Security is going to become a very important and serious topic in the next year or so.
Lastly, let’s just say Congress does nothing and 2032 rolls around and you’re eligible for Social Security, so you want your money. What will your check look like?
According to the Committee for a Responsible Federal Budget, on average, you will see about $500 less in your check than those who are receiving Social Security benefits today.
According to the Social Security Administration, as of January 2026, the average monthly Social Security retirement check is $2,071. So that means your check in 2032 would only be $1,571.
Now, the cut you’ll see in your Social Security check will vary depending on your state and your tax bracket. And that’s where that handy interactive map comes in.
You can find your own state and see, based on these projections from the Social Security Trustees, what your Social Security check would look like.
According to the watchdog group, the state with the lowest Social Security cut in 2032 is projected to be Mississippi. Recipients there will see a $459 cut in their check every month.
And the state with the highest Social Security cut in 2032 is projected to be Connecticut, with a $556 monthly cut.
2026 Social Security Trustee report here.
Interactive Map of Social Security benefit cuts here.
Read the letter here.
Average Social Security payment here.
