Core Insights - The Social Security program in the U.S. is facing significant financial challenges, with projections indicating it will only be able to pay 100% of scheduled benefits until 2033, after which it will cover only 77% of benefits due to demographic and economic factors [2]. Group 1: Social Security Challenges - The Old-Age and Survivors Insurance Fund is projected to be unable to meet its obligations fully after 2033, leading to a potential shortfall in benefits [2]. - Contributing factors to the shortfall include a declining workforce, increasing longevity of retirees, and rising income inequality [2]. Group 2: Retirement Alternatives - Individuals are encouraged to maximize contributions to employer-sponsored retirement plans, with limits set at $23,500 for 401(k) plans in 2025, and additional catch-up contributions available for those aged 50 and over [4][5]. - For those without employer plans, traditional or Roth IRAs are available, with annual contribution limits of $7,000 and an additional $1,000 catch-up contribution for individuals over 50 [7]. - Self-employed individuals or small business owners have the option to establish retirement plans that may allow for higher contributions than standard employer-sponsored plans [8].