Elon Musk’s Social Security reset is coming even after DOGE’s death — protect your check whether you like him or not

Thomas Kent

Mon, August 24, 2026 at 7:39 PM GMT+3 6 min read

Samuel Corum, Getty Images

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Elon Musk may have left Washington, and the Department of Government Efficiency (DOGE) may be dead, but the changes the agency helped unleash on Social Security are very much alive.

DOGE officially reached its planned expiration date (1) on July 4, 2026, after shutting down months earlier. The initiative launched sweeping efforts to shrink the federal workforce and overhaul government agencies, with more than 260,000 federal employees leaving government service in 2025 amid layoffs, early retirements, deferred resignations and a hiring freeze.

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Social Security offers one of the clearest examples of what DOGE left behind.

Nearly 8,000 employees have left (2) the agency since President Donald Trump returned to office, according to Office of Personnel Management data cited by the Federal News Network. The Social Security Administration (SSA) entered 2026 with roughly 50,000 employees, leaving the agency with its smallest workforce in decades, even as it serves around 75 million beneficiaries. Musk himself has since called DOGE only "somewhat successful" and said he wouldn't undertake the effort again.

Yet, Social Security is still moving ahead with an increasingly technology-driven future. Its newly released strategic plan (3) for fiscal years 2026 through 2030 describes its goals as "transformative," with a focus on faster, more reliable service, technology and productivity. That approach builds on changes DOGE pushed at the agency under Musk (4), including workforce reductions, greater reliance on online services and an explicit effort to use technology and automation to improve efficiency.

Can technology make up for thousands of lost workers?

The American Federation of Government Employees (AFGE), which represents SSA workers, says the agency has long been understaffed and under-resourced. The union is calling for Congress to provide roughly $3 billion in additional funding and eventually add 20,000 employees.

The SSA says (5) its modernization push is working. The agency reported that wait times at field offices fell 23% in fiscal 2025 compared with 2024, while its initial disability claims backlog fell 25%.

For retirees, the overhaul adds another variable to a program already facing serious financial pressure.

Social Security's bigger problem

The 2026 Board of Trustees Report (6) projects that the Old-Age and Survivors Insurance (OASI) Trust Fund, which pays retirement and survivors benefits, will exhaust its reserves in the fourth quarter of 2032, a quarter sooner than it projected last year.

Payroll taxes would continue flowing into the program after depletion, providing enough revenue to initially cover about 78% of scheduled OASI benefits without congressional action.

That puts Social Security on two tracks at once: The agency is trying to serve tens of millions of Americans with fewer workers and more technology, while the retirement program itself moves closer to a funding deadline that will require action from Congress.

What that action looks like is ultimately up to Washington. For Americans planning their retirement, the more immediate opportunity is to strengthen the income and assets they can control.

Social Security is designed to supplement retirement income. Saving more, earning a stronger return on cash, investing for the long term and planning how to draw down those assets can reduce how much your retirement depends on decisions made in Washington.

Here are several ways to build additional sources of retirement income and make the savings you already have work harder alongside Social Security.

Make your money work harder

Keeping cash available can be particularly valuable in retirement, when an unexpected expense could otherwise force you to sell investments at an inconvenient time.

A high-yield account like a Wealthfront Cash Account can be a great place to grow your uninvested cash, offering both competitive interest rates and easy access to your money when you need it.

A Wealthfront Cash Account currently offers a base APY of 3.30% through program banks, and new clients can get an extra 0.75% boost during their first three months on up to $150,000 for a total variable APY of 4.05%.

That's 10 times the national deposit savings rate, according to the FDIC's July report.

Additionally, Wealthfront is offering new clients who enable direct deposit ($1,000/mo minimum) to their Cash Account and open and fund a new investment account an additional 0.25% APY increase with no expiration date or balance limit, meaning your APY could be as high as 4.30%.

With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, your funds remain accessible at all times. Plus, you get access to up to $8M FDIC Insurance eligibility through program banks.

Lock in a rate on your savings

When interest rates are in flux, a high-yield savings account (HYSA) can feel like a moving target. You might earn a competitive APY one month, only to have your bank lower it the next. While flexible, HYSA returns aren't guaranteed, which is a risk that's magnified when the Fed holds rates steady or signals future shifts.

With a Certificate of Deposit (CD), you lock in a rate up front, so your earnings stay fixed for a set term, even if market rates slip.

For those seeking predictable, reliable growth, a platform like CD Valet can help you find higher-yield options that work for you, whether you're saving for something soon or building a cushion for the long haul.

CD Valet tracks over 40,000 verified rates from FDIC-insured banks and NCUA-insured credit unions nationwide. Unlike other websites, they show every publicly available rate, ensuring you have a comprehensive view of the market.

To help you save smarter, CD Valet provides free, specialized tools.

Earnings calculator: See exactly how much interest you'll accrue by the end of your term. Adjust different rates and terms to see how much you can earn with a 12-month vs. a 24-month CD.

CD rates map by state: See real-time offers of the best CD rates across the country. Many institutions allow you to open an online account, so you can take advantage of a great CD rate without being located in that state.

What's more, their CD rates are updated continuously, so you can shop, compare and open CDs with ease.

Build a nest egg outside Social Security

Americans with years before retirement have another powerful tool: time.

Investing $200 every month for 30 years with a hypothetical average annual return of 7% would grow to roughly $244,000. You would contribute $72,000, with the remainder coming from hypothetical investment growth.

Actual returns aren't guaranteed, and investments can lose value, but consistent investing can give you another potential source of retirement income alongside Social Security.

If you prefer a hands-off, tech-forward approach to building wealth, Vanguard's Digital Advisor puts the investing expertise of one of the world's largest asset managers right at your fingertips.

It takes the guesswork out of investing by building a personalized portfolio for you using Vanguard's well-known low-cost ETFs and mutual funds — then keeps things running smoothly with automatic rebalancing.

The platform also offers guidance on saving for retirement and lets you set additional goals as your life evolves. It can help you think through debt repayment strategies as well, potentially freeing up more cash to invest toward your long-term plans.

With a minimum investment of just $100, it's an easy way to get started with professionally guided investing.

For every $10,000 in an all-index portfolio, you'll pay approximately $15 to $16 per year.*

You can even test-drive the Vanguard experience with no advisory fees for the first 90 days.

*All investing is subject to risk, including the possible loss of the money you invest.

Get hands-on help with your retirement plan

Where you keep your retirement savings matters, too.

Traditional IRAs and 401(k)s, Roth accounts and taxable brokerage accounts have different tax treatment. The right mix can depend on your income, age, retirement timeline, other assets and Social Security claiming strategy.

But for investors with larger portfolios, financial decisions can become even more nuanced. Managing withdrawals, minimizing tax exposure and ensuring long-term sustainability often require greater coordination and strategic planning.

In these cases, working with a financial advisor can help reduce costly mistakes.

So, if you have a portfolio of $250,000 or more, platforms like WiserAdvisor can connect you with vetted professionals who specialize in this kind of planning.

Simply answer a few questions about your savings, retirement timeline and overall investment portfolio. From there, WiserAdvisor reviews its network to match you, for free, with up to three vetted, reputable advisors aligned with your specific needs.

You can then schedule no-obligation consultations with your matches to determine who is the best fit for your long-term goals.

WiserAdvisor is a matching service and does not provide financial advice directly. All matched advisors are third parties, and specific financial results are not guaranteed.

See how your retirement fits together

Social Security may be one stream of retirement income alongside 401(k)s, IRAs, brokerage accounts, savings, pensions and other assets. That's why keeping track of all those accounts is increasingly important as you approach retirement and decide how much you can afford to withdraw each year.

A platform like Empower can help reduce the stress of filing taxes by connecting you with a licensed tax professional who can support you from start to finish.

Unlike stand-alone tax software, Empower lets you manage your multiple retirement accounts in one dashboard and lets you file from the same platform.

Even if you're not an Empower client, you can still file taxes through Empower by creating a free Empower Dashboard to get started.