Social Security is the most valuable asset most Americans have.
June Zaccone
By Jeff Sommer Sept. 5, 2025
Social Security is the most valuable thing most Americans have.
I don’t mean this in an abstract sense. In purely financial terms, the Social Security check that you are getting now or have a right to receive when you are older is your most valuable financial asset.
That statement is true for nearly everyone except those in the top 10 percent of the wealth distribution in the United States. And for people right in the middle, Social Security amounts to roughly one-third of their total wealth, on average, according to an eye-opening study by the nonpartisan Congressional Budget Office.
For poorer people, Social Security isn’t just the most valuable asset they’ve got. It can be absolutely crucial — the difference in old age between destitution and a bare modicum of survival. And it helps people with disabilities and children as well as older Americans. Social Security lifts more people out of poverty than any government program, according to a separate study by an independent research institute the Center on Budget and Policy Priorities.
Anything this important ought to receive far more attention and respect than it has been getting. Instead, Social Security is a neglected responsibility of the political classes — a precious 90-year-old legacy that has been allowed to fall into disrepair....