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HerMoney with Jean Chatzky

Ep 489: Your Retirement, The Truth About Social Security, And How to Prepare NOW

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.81.3K Ratings

🗓️ 20 August 2025

⏱️ 40 minutes

🧾️ Download transcript

Summary

Social Security is back in the headlines, and the news isn’t exactly comforting. Words like shortfall and cuts are sparking real fear among retirees, near-retirees, and younger workers who wonder if the program will even be there for them. In this episode, Jean sits down with Michelle Singletary, nationally syndicated personal finance columnist for The Washington Post, to break it all down: What a potential 20–25% shortfall in 2033 could actually mean for retirees. Why your check won’t disappear entirely  The surge in early claims: Should you take the money now, or wait? Why writing Social Security out of your retirement plan is a mistake for Gen X, millennials, and Gen Z. Michelle’s must-do checklist for near-retirees: from eliminating your mortgage to building a realistic budget. If more financial confidence sounds good to you, then you might want to try… ⁠4-Week Coaching Program⁠: Identify and understand your spending, build a strategic plan, and take control of your money. ⁠6-Week Pre-Retirement Program⁠: We’ll help you prepare financially and emotionally for this exciting milestone. 📈⁠InvestingFixx⁠: Learn, connect, and start investing—your first month is completely free. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

I want to tell you about another podcast I've been relying on to help guide my charitable giving

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decisions. Giving done right is all about how to make an impact with your giving and tackles the

0:12.7

question every donor is asking. How can I make the biggest difference right now? With shifts in

0:19.7

federal policy and funding in flux, non-profits

0:22.9

and civic institutions are struggling, and your giving, it matters more than ever. On giving done

0:29.5

right, you'll hear from philanthropic experts and major donors who reveal how to maximize

0:35.1

impact on issues from protecting democracy to supporting

0:39.4

immigrants in crisis. Whether you give hundreds or millions, this show delivers knowledge

0:45.6

that turns good intentions into real results. Stay tuned to the end of this episode for an

0:52.2

exclusive listen of Giving Done Right and find more episodes

0:56.3

wherever you get your podcasts. Hi, this is Ava from Vanta. In today's digital world,

1:02.8

compliance regulations are changing constantly and earning customer trust has never mattered more.

1:08.6

Vanta helps companies get compliant fast and stay secure with the most advanced

1:13.0

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1:17.7

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1:25.1

And I'm not to say that because I work here. Get started today at

1:28.0

Fanta.com. I won't ever tell you not to be afraid and scared because you have to feel what you need

1:36.1

to feel. But don't act on that. Really look at your financial situation. And does this make sense

1:43.0

for you right now? We don't know what's going to happen

1:45.7

the future maybe it'll be worse but maybe it'll be okay and so just look at that and if you know

1:52.0

that you're going to be on the edge and even waiting a year to get your full benefits it's going to

1:56.7

really hurt you that it makes sense for you to start collecting now.

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