The social security office released the January 2025 social security snapshot report and it shows further growth in enrolls. For January 2025, there were 144,000 net new social security recipients over the age of 65. The current monthly cost of the current benefits is $126 billion according to the social security snapshot.
The U.S. has breached the 73 million socials security enrollments milestone in January 2025. We expect the social security enrollments to balloon over the next 7 years as all baby boomers will hit age 65 by 2030 so the numbers will start to trend upward faster and higher.
Keep in mind that this is ONLY social security. We’d love to get accurate and current data on medicare but we have struggled to find any place that houses this data. Politicians are now openly discussing modifications to the program so we’ll keep an eye on activity in this space.
2030 Extrapolation
We did a simple excel extrapolation based on the current data to see what social security would cost on a monthly basis in 2030 when all boomers are over the age of 65 and the number is alarming. Based on current trends, social security payouts will be $146 billion per MONTH or $1.75 trillion per year by 2030, and that’s just social security.
We’ll keep an eye on social security enrollments in 2024 so stay tuned, stay profitable and stay solvent…