These are the changes DOGE could introduce to Social Security that will affect your benefits

Elon Musk and the Department of Governmental Efficiency has taken aim at Social Security and is set to make huge changes to the program.

The aim is to reduce fraud and create a more logical system. Over 72.5 million people receive a Social Security check each month, but new policies and staff cuts are likely to cause a disruption in benefit payments.

Steven Kibbel, a financial planner, entrepreneur and chief editorial advisor at Gold IRA Companies says there’s nothing to worry about.

“I work with retirement planning on a regular basis and I just want to make it absolutely clear: No plan, no official, no concrete, exists that shows any kind of adjustment from Elon Musk or anything involving Dogecoin is being undertaken with the operation of Social Security,” Kibbel said to Yahoo.

“Social Security is a program administered by the federal government, heavily regulated, and any real change would necessarily be made by Congress. That is not something that can be decided on by one entity or individual.”

Musk’s three Social Security changes

Tech-driven payments

Naturally given his background, Musk would like to bring more technology into the payment process.

Peter Diamond, a Federally Licensed Tax, Accounting, Real Estate, and Structure and Certified Bankability Expert said to Yahoo: “If blockchain or crypto-backed rails like DOGE are introduced, expect cleaner systems, less fraud and more transparency, which is clearly needed,” he stated.

“I personally love tech when it creates more freedom and control,” he explained. “But remember – wealth is built through cash-flowing assets you control, not just government promises. Let this be your signal to get structured and take action now; don’t wait for the government to save you.”

Innovation-based incentives

One suggestion is that Musk will reward people who contribute to innovation or take up a career like AI or renewable energy. They could receive earlier benefits as an incentive.

“Elon rewards builders and disruptors – it’s possible Social Security might, too,” Diamond stated. “Otherwise, there is a very good chance that slower payments and higher age limits will have to apply in order to save the system.

“If you’re already thinking ahead and structuring your life like an investor – not an employee – you’re going to be just fine in this environment. Change is happening; change is here. Instead of fighting it, embrace it and let that be a wake-up call to take action and control over your financial future today; don’t delay it any longer.”

Crackdown on Fraud

The primary goal is to remove the supposed fraud that is in the Social Security system. The DOGE website claims it has saved taxpayers an estimated $140 billion.

“By eliminating waste and improper payouts, there’s a stronger chance the system survives – and actually works as it was originally intended – for those who need it most,” Diamond explained.

“It will, of course, come at a cost in the beginning. Slower payouts and service, but that is to be expected any time a drastic change like this happens.”