--- title: "Social Security in Retirement: How Much Will You Get?" description: Will Social Security be there during your retirement? Should you include your social security benefits in your retirement income plan? image: https://www.letsassemble.com/hs-fs/file-2463420213-jpg/images/Social-Security-Benefits-In-Retirement.jpg --- [![Assembly Wealth](https://www.letsassemble.com/hs-fs/hubfs/Assembly/logos/Assembly-Wealth-Logo-Orange-500px.png?width=300&height=70&name=Assembly-Wealth-Logo-Orange-500px.png "Assembly Wealth")](https://www.letsassemble.com/) The Money Manager People TM [800-541-7774](tel:+18005417774) [![RESEARCH MONEY MANAGERS](https://no-cache.hubspot.com/cta/default/10700/7ecbcb66-3fbb-41e3-b219-c24fb3c769c5.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/7ecbcb66-3fbb-41e3-b219-c24fb3c769c5) [![Client Center](https://no-cache.hubspot.com/cta/default/10700/8691dcb4-caa3-42c2-a810-77b59f461fd2.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/8691dcb4-caa3-42c2-a810-77b59f461fd2) [Home](https://www.letsassemble.com/) WrapManager's Wealth Management Blog When life changes, we can help you thoughtfully respond. [< Back to read another post](https://www.letsassemble.com/wealth-management-blog) # Social Security in Retirement: How Much Will You Get? Posted by [ Seton McAndrews | CFP®, Vice President Investments](https://www.letsassemble.com/wealth-management-blog/author/seton-mcandrews) August 20, 2014 - [Tweet](https://twitter.com/share) [![Social Security Benefits in Retirement](https://www.letsassemble.com/hs-fs/file-2463420213-jpg/images/Social-Security-Benefits-In-Retirement.jpg?width=205&name=Social-Security-Benefits-In-Retirement.jpg "Social Security Benefits in Retirement")](http://blog.wrapmanager.com/social-security-in-retirement-how-much-will-you-get)Should you count on Social Security benefits as an integral part of your retirement income plan? And how much? These are questions we hear often. There's a lot of confusion out there regarding social security benefits because misinformation abounds. With political issues, rhetoric becomes inflamed, and information is often used to sway opinion or policy. But when you're planning for retirement, misinformation is dangerous. What you need are solid answers about Social Security. Let's look at some of the most common questions surrounding Social Security in retirement. ### Will Social Security Be Available During My Retirement Years? The Congressional Budget Office projects that the trust funds that support Social Security will be exhausted in 2031, but that doesn't mean the program will cease to exist. Historically, benefits paid out each year exceed the revenue collected by the Social Security Administration, so the trust funds supplement the shortfall. Those trust funds are estimated to be depleted in 2031. Should that happen, Social Security will only be able to pay out the revenue collected, so payable benefits are expected to be 25 percent less than scheduled benefits. If conditions remain the same, this state of affairs is expected to continue until 2087, at which time the gap will widen and benefits will be 34 percent smaller than scheduled benefits. So, to answer this question, it is projected that Social Security benefits will be available during your retirement years, but your benefits may be reduced by roughly 25 percent from today's scheduled benefits after 2031.1 ### Will Social Security Fundamentally Change During My Lifetime? Without question, the government can make changes to Social Security, and given the current state of the system, it must make changes. Changes to the Social Security program have happened in the past, so there's a historical precedent for changes in the future. In 1983, Congress made fundamental changes to Social Security in order to push solvency forward for another fifty years. With the scheduled 2031 depletion of the Social Security trust funds, there's a good chance that Congress will again make changes to the program.2 What those changes will look like depends on a variety of factors, but no politician wants to be responsible for the cutting of Social Security benefits to senior citizens. Therefore, it's possible that Congress will make changes to Social Security by enacting higher taxes on certain income ranges or other similar measures to make up for the lack of funds projected after 2031. ### How Should I Incorporate Social Security Into My Retirement Income Plan? Given that Congress has made adjustments to Social Security in the past to keep the program solvent, it is likely that [including Social Security benefits in your retirement planning](https://www.letsassemble.com/wealth-management-blog/when-should-i-start-taking-social-security) makes sense. You could also see how your retirement plan would perform if you reduced your social security income to 75% of today's scheduled benefits. Your Financial Adviser can help you to make these adjustments and suggest ways to make up for the missing 25%. This can be done by changing your allocations, reducing spending, increasing your retirement account contributions, and more. As you make adjustments, consult carefully with your Financial Adviser to avoid taking on additional risk you don't need or can't handle. ### What's My Next Step? One of our Wealth Managers here at WrapManager can create an investment plan for you that can help you to mitigate any shortfalls in your retirement plans. We can customize your retirement plan specifically to your needs and lifestyle. [Get started by answering a few short questions here](https://www.letsassemble.com/free-money-manager-recommendation), or give us a call at (800) 541-7774. [![Like What You've Read? Subscribe Here!](https://no-cache.hubspot.com/cta/default/10700/5ce6db8c-6757-43bb-831d-b67f40d96a4c.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/5ce6db8c-6757-43bb-831d-b67f40d96a4c)   --- Sources: 1 [Congress of the United States Congressional Budget Office](http://www.cbo.gov/sites/default/files/cbofiles/attachments/44972-SocialSecurity.pdf) 2 [Financial Advisor Magazine](http://www.fa-mag.com/news/what-if-social-security-fails-18455.html)                       [![](https://no-cache.hubspot.com/cta/default/10700/358b2f69-d2a8-4560-aa07-ce456edba435.png)](http://cta-redirect.hubspot.com/cta/redirect/10700/358b2f69-d2a8-4560-aa07-ce456edba435)                 [Retirement Planning](https://www.letsassemble.com/wealth-management-blog/topic/retirement-planning) [Retirement Income Strategy](https://www.letsassemble.com/wealth-management-blog/topic/retirement-income-strategy) ### Subscribe to Updates [Subscribe to RSS Feed](https://www.letsassemble.com/wealth-management-blog/rss.xml) [![New Call-to-action](https://no-cache.hubspot.com/cta/default/10700/ffe2a394-957b-481b-9f80-4ef176bd6aaf.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/ffe2a394-957b-481b-9f80-4ef176bd6aaf) ### Most Recently Published ### Blog Authors [![Gabriel Burczyk](http://www.wrapmanager.com/hs-fs/hub/10700/file-2347381761-jpg/Athors_Avatars/Gabe-avatar.jpg "Gabriel Burczyk")](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [**Gabriel Burczyk,**](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [Founder & CEO](http://www.wrapmanager.com/wealth-management-blog/author/gabriel-burczyk) [![Valerie De Vol](http://www.wrapmanager.com/hs-fs/hub/10700/file-2457588837-jpg/Athors_Avatars/Valerie-De-Vol-avatar.jpg "Valerie De Vol")](http://www.wrapmanager.com/wealth-management-blog/author/valerie-de-vol) [**Valerie De Vol, **IACCP® Chief Operating Officer](http://www.wrapmanager.com/wealth-management-blog/author/valerie-de-vol) [![Seton-avatar.jpg](http://www.wrapmanager.com/hs-fs/hub/10700/file-2344519198-jpg/Athors_Avatars/Seton-avatar.jpg "Seton-avatar.jpg")](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews) [**Seton McAndrews, **CFP® ](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews)[Vice President - Investments](http://www.wrapmanager.com/wealth-management-blog/author/seton-mcandrews) [![Doug Hutchinson](http://www.wrapmanager.com/hs-fs/hub/10700/file-2347381751-jpg/Athors_Avatars/Doug-avatar.jpg "Doug Hutchinson")](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) **[Doug Hutchinson,](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) **[CFA® ](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson)[Director of Research and Trading](http://www.wrapmanager.com/wealth-management-blog/author/doug-hutchinson) ![Katie - square.png](https://www.wrapmanager.com/hubfs/Katie%20-%20square.png "Katie - square.png") [**Katie O'Connor **Director of Client Services](https://www.wrapmanager.com/wealth-management-advisors/katie-oconnor) **Important Disclosure Concerning WrapManager Blogs** Blogs found at this site have been created or supported by WrapManager. The information provided in a blog post prepared by WrapManager or an associated person of WrapManager is generally limited to financial and economic issues, but may include a discussion of general interest items. The views and opinions expressed on this blog are purely the blog authors, and not necessarily those of WrapManager, Inc. Certain blog posts include information pertaining to WrapManager’s investment advisory services and the products and services of unaffiliated money managers. Such information is provided for information purposes only. Accordingly, information provided in a blog should not be construed by any consumer and/or prospective client as a solicitation to effect or attempt to effect transactions in securities or the rendering of personalized investment advice. Any subsequent, direct communication by WrapManager with a prospective client shall be conducted by a representative of WrapManager. Moreover, no client or prospective client should assume content contained on the website serves as a substitute for personalized advice from WrapManager. Different types of investments involve varying degrees of risk, and there can be no assurance that any investment, portfolio or money manager referred to within the blog will be suitable for your individual situation and risk tolerance or will be profitable. WrapManager recommends that you retain a financial professional to provide you with specific guidance regarding your financial situation before investing. Investment in equity strategies involves substantial risk and has the potential for partial or complete loss of funds invested. Although the information included in the WrapManager, Inc. website and blog has been obtained from sources WrapManager believes to be reliable, we do not guarantee its accuracy and information may be subject to change without notice. This website should not be regarded as a complete analysis of the subjects discussed. Information on this site should not be relied upon as a substitute for legal, tax or accounting advice by a professional in your local jurisdiction. Comments made by third parties are subject to moderation by WrapManager and may not appear on this blog until they have been deemed appropriate for posting. Also, due to the volume of comments received, not all comments will be posted. WrapManager does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party website linked to WrapManager's web site or incorporated within a blog post. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.     ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Seton McAndrews", "url" : "https://www.letsassemble.com/wealth-management-blog/author/seton-mcandrews" }, "datePublished" : "2014-08-20T15:30:00.000Z", "headline" : "Social Security in Retirement: How Much Will You Get?", "image" : [ "https://www.letsassemble.com/hs-fs/file-2463420213-jpg/images/Social-Security-Benefits-In-Retirement.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.letsassemble.com/wealth-management-blog/social-security-in-retirement-how-much-will-you-get", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.letsassemble.com/hubfs/Assembly/logos/Assembly-Wealth-Logo-Orange-500px.png" }, "name" : "Assembly" } } ```