This retirement expert says the US is ‘past the point where we can fix Social Security.’ What she recommends instead

Read More: Approaching retirement with no savings? Don’t panic, you're not alone. Here are 6 easy ways you can catch up (and fast)

Funding shortfalls

Not everyone is convinced that pumping more money into Social Security is the answer, especially with the U.S. debt nearing $39 trillion, as of January 2026 (5). This daunting figure is particularly relevant to Social Security, which already represents the government’s single largest expense, accounting for 22% of federal spending so far in the 2026 fiscal year (6).

Demands on the program will only grow, too. Life expectancy has continued to increase in the United States, with the number of Americans aged 65 and older expected to rise from 58 million in 2022 to 82 million by 2050 (7). As a result, benefit payments will continue climbing, with around $1.6 trillion estimated to be paid out in 2025, according to a fact sheet released by the U.S. Social Security Administration (8).

Some argue for raising the retirement age to 67 or even 70 to address these pressures, while others suggest structural reforms or benefit cuts. However, with no clear consensus in Washington, the future of Social Security remains in limbo, highlighting the importance of securing a reliable retirement plan that can withstand potential changes.

Grow a nest egg to supplement shrinking benefits

Something that is not uncertain is the importance of building a solid nest egg for a secure retirement — especially if you want to rely less on Social Security.

Finance experts like Suze Orman have long touted the idea that by focusing on growing your retirement accounts and diversifying your investments, you can create a stronger financial foundation.

Equally important is having an emergency fund, which can protect your savings from unexpected expenses without jeopardizing your retirement goals. After all, the last thing you want is to have to liquidate your retirement fund to cover a hospital stay.

Contribute to and diversify retirement accounts

In an era of economic uncertainty, securing your financial future may require a more proactive approach than in the past — one that goes further than old age security.

For instance, if you’re optimizing your investments for stability, gold is typically more stable than stocks during economic downturns and recessions. In fact, the price of an ounce of gold has soared in the past 10 years, from $1,116 in January 2016, to a new high of $4,995.50 in late January (9).

If gold sounds appealing, you can now invest in the precious metal directly. One way to do so that can also provide significant tax advantages is to open a gold IRA with the help of Priority Gold.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide that includes details on how to secure up to $10,000 in free silver on qualifying purchases. You can also download a free information guide to find out if a gold IRA is the right move for your retirement goals.

Make sure you have an emergency fund, now and in retirement

While building personal wealth through smart, independent investing has never been more essential, it’s also important not to forget about putting aside an emergency fund — distinct from retirement savings so you don’t have to dip into long-term investments when unexpected expenses arise.

Daunting as it may be to think about, there are ways to grow your emergency fund that are less stressful and more hands-off than you would think.

Growing your emergency fund with a high-yield account

One of the best ways to grow your emergency fund is a high-yield account. A high-yield account offers higher interest rates than those of a traditional savings account, thus generating more money from interest in less time than a traditional savings account.

To get started, a high-yield account, such as a Wealthfront Cash Account, can be a great place to grow your funds, offering both competitive interest rates and easy access to your cash when you need it.

The Wealthfront Cash Account provides a base variable APY of 3.25%, but new clients can get a 0.65% boost over their first three months for a total APY of 3.90% provided by program banks on your uninvested cash. That’s about eight times the national deposit savings rate, according to the FDIC’s January report.

With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, you can ensure your funds remain accessible at all times. Plus, Wealthfront Cash Account balances of up to $8 million are insured by the FDIC through program banks.