Recently, we hosted a review meeting with a longtime client. He leaned back in his chair and asked a question I could tell had been on the tip of his tongue all meeting, “Is Social Security going to be there for us when we can take it?” His voice was half-joking, but his eyes told me this was a question he’d been pondering for a while.

A few weeks later, in a meeting with a much younger client, a similar question came up as we reviewed her Longview Analysis. “We should probably assume we won’t get any Social Security,” she stated. “I keep hearing it will be gone by the time my generation retires.”

Social Security is one of the default income streams we have built into our planning, but there are plenty of headlines warning that it is “running out of money”. So are we crazy to plan assuming that it will be around?

The short answer is no. And part of taking the Long View is remembering that headlines are designed to grab your attention, not necessarily to give you the full story. When we step back and look at the complete picture, Social Security is often far more durable than the news cycle suggests.

Much of the anxiety around Social Security comes from the annual reports released by the Federal Old-Age and Survivors Insurance (OASI) and Federal Disability Insurance (DI) programs projecting their Trust Funds to be depleted by 2035. These Trust Funds are simply reserves built up during years when Social Security collected more in payroll taxes than it paid out.

As Baby Boomers retire and live longer, benefit payments now exceed annual contributions, which means the reserves are being drawn down. But what the headlines often leave out is that the Trust Funds are not the system itself. Even if the reserves are depleted, workers will still be paying payroll taxes every paycheck, and those ongoing taxes are currently projected by the Social Security trustees to continue funding roughly 80% of benefits.

The problem Social Security faces is primarily a math problem, not an existential one. And the math problem has multiple straightforward fixes that have been discussed for years, including:

• Increasing the Social Security payroll tax rate modestly
• Subject all wages to Social Security payroll tax (remove the current cap)
• Reduce current and future benefits
• Reduce only the future beneficiary’s benefits
• Raise Full Retirement Age
• Slow benefit growth for top earners
• Change the way cost-of-living adjustments are made
• Some combination of two or more of these measures

Many policy experts expect that lawmakers will need to make adjustments over time, although it is uncertain which combination of tools they will choose. Social Security is a significant program that is relied upon by many Americans. More than 70 million Americans receive benefits today, and nearly every worker contributes with the expectation that those benefits will be there when they retire.

It remains one of the most consistently popular programs in the country and has been the backbone of American retirement for generations. That level of reliance and public support is one reason many policymakers focus on keeping it solvent.

At Hill, we plan based on data and evidence, not speculation. For clients nearing retirement, we typically model full benefits under current law. For younger clients, we still model full benefits, but we review scenarios that assume reductions so your long-term plan stays durable regardless of what policymakers decide. These scenarios are planning tools and do not represent predictions about future legislation. What we do not do is assume Social Security will disappear. The evidence available today does not point in that direction, and the popularity of the program makes that outcome appear extremely unlikely, although future changes to the program are always possible.

Of course, if you’d like us to assume a “doomsday” scenario where no Social Security” system exists, we’d be happy to model it for you. But for many clients who’ve been consistent savers over the years, they will learn that they will still be fine without the additional income from Social Security.

While it is true that Social Security is under strain, it is not collapsing. The headlines sound alarming because uncertainty sells, but the reality is far more stable and manageable.

If you have been feeling uneasy about what this all means for your plan, let’s talk. We want you to understand the system, understand your plan, and feel confident about the path ahead.

Clients and those that know us well expect clarity and transparency in all that we do, especially when it comes to fees. In fact, HIG goes overboard to fully communicate all fees and expenses because every last basis point matters.

In contrast, most of Wall Street uses every means possible…including regulations…to disclose as little as possible, especially when it comes to fees.

Jason Zweig of the Wall Street Journal makes a crystal clear statement in a recent article:

“The first question on most investors’ minds is usually: How much can I make on this? Instead, their first question should always be: How much will this cost me?”

We wholeheartedly concur.
Be on the lookout for and learn about the latest pending legislation that would hide fees from investors here.

If you’re interested in more clarity and transparency in your life, set up a time to talk here.

As the year comes to a close, this is a reminder that there are just a few days left to make charitable gifts that count for this year’s taxes. Many of you have already completed your giving. If generosity towards family or charity is still part of your year end plans alongside holiday gifts, there is still time to act with intention.

At Hill Investment Group, we view giving as an extension of a long view, values driven plan. Credible giving means supporting what matters to you while being thoughtful about how and when you give. For those who are eligible, charitable gifts from an IRA can be an especially efficient way to give, particularly when required minimum distributions are already part of the picture. Donor advised funds also allow families to give appreciated assets and avoid capital gains tax.

Tax law changes beginning on January 1, 2026, may reduce the value of charitable deductions for some households. For families who are already planning to give, completing gifts this year can be a thoughtful way to align generosity with 2025’s tax laws.

If year end giving is already part of your plan, now is a natural time to bring it across the finish line. Send us a note at service@HillInvestmentGroup.com if you want help accomplishing your goals for this year.