Headlines warning that Social Security is “running out” have sparked fresh anxiety among younger investors. Some stories highlight a potential $460 monthly benefit cut. Others suggest the system may collapse entirely.

The reality is more complex.

According to the 2025 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds (PDF File), the program is facing a structural shortfall. But that does not mean Social Security is disappearing. And for workers in their 20s, 30s and early 40s, the most important questions are different from the ones driving today’s headlines.

Here’s what actually matters.