Mark Cuban Has a Blunt Message for Anyone Counting on Social Security in Retirement

With talk of potential benefit cuts and access issues, you might worry about whether you can rely on Social Security in retirement and whether your savings can cover any gaps. Because many retirees rely on these senior benefits, billionaire entrepreneur Mark Cuban is concerned the program is being quietly eroded.

Find out why Cuban is sounding the alarm about this government program and what practical steps you can take so you don't rely solely on increasingly uncertain payments.

Cuban has warned about proposed changes

In a March 2025 Bluesky post, Cuban said this about a concerning proposed government change: "The administration is removing phone support for Soc Security recipients. Making it more difficult for seniors to get their checks. It's a back door way to cut SS benefits. Horrific."

This move would've made beneficiaries more reliant on using tools on the Social Security Administration (SSA) website or visiting offices in person. For those who aren't able to use the website or potentially travel several miles, accessing benefits could've become harder.

The SSA reversed the phone policy in late March 2025 after significant public backlash, but staffing cuts and office closures have still created access challenges. SSA had 57,384 employees in January 2025 and 49,880 in January 2026, a decline of about 13%. By the end of February 2026, the agency had roughly 49,700 employees.

In a March 2025 X post, Cuban then bluntly reacted to the demands such cuts would put on seniors, who could face issues accessing their benefits.

"End telephone support for Social Security, cut dozens of SS offices and make Grandma and Grandpa finally get online to confirm their payments. What an amazing back door way to cut payments! Gonna be some upset seniors at town halls!"

The SSA mostly reversed the phone support decision

Ultimately, the SSA mainly backtracked and kept its phone support lines open. However, the agency did tighten identity verification for direct deposit changes in April 2025. 

Beginning April 28, 2025, beneficiaries have been able to change their direct deposit information by phone, but they first need to generate a one-time security code through a personal my Social Security account. Those who can't generate the code can visit a local Social Security office or arrange direct deposit through their bank.

While beneficiaries can still apply and receive other help by phone, those who need to update their banking details may encounter an additional identity-verification step. For people who aren't comfortable using online services, generating the one-time code could still create a hurdle.

As of June 2026, the picture for phone access had also improved substantially. SSA reported that the average speed of answer on its national 800 number had fallen to about eight minutes, a roughly 75% reduction from 2024 levels. The agency also said it was answering around 90% of 800-number calls and was hiring about 750 telephone representatives.

That means the current situation is more nuanced than it was in early 2025. SSA is operating with a significantly smaller workforce, but its reported national phone-service metrics have improved.

Staffing cuts are still creating issues

The Center on Budget and Policy Priorities reported on June 3, 2026, that SSA had lost 8,028 employees, or 14% of its workforce, from January 2025 through April 2026. The figure represents a longer period than the roughly 49,700 employees reported at the end of February 2026, which was a separate staffing snapshot.

For context, SSA's headcount fell from 57,384 in January 2025 to 49,880 in January 2026 — a decline of about 7,500 employees, or 13%. By the end of February 2026, the workforce had fallen to roughly 49,700. The later CBPP figure captures additional losses through April 2026, which is why its total reaches more than 8,000 employees and 14%.

While beneficiaries' payments are unaffected, understaffing creates other headaches, as Cuban suggested. With fewer workers to handle calls or help beneficiaries at local SSA offices, getting questions answered and fixing benefit problems may take longer. These changes might also impact the processing of new benefit applications.

What else the future might hold

Beyond support-related changes that indirectly affect access, many Americans worry about the Social Security Trust Fund reserves. The 2026 Social Security Trustees Report projects that the Old-Age and Survivors Insurance (OASI) Trust Fund will be depleted in the fourth quarter of 2032, one quarter earlier than last year's report projected. At that point, continuing program income would cover 78% of scheduled OASI benefits.

Smaller Social Security checks may affect your retirement plan, including the age when you'll claim benefits and how much you need to save to cover your expected expenses.

The program might also experience other major changes to delay insolvency. Some potential options include raising the full retirement age, capping benefits and cost-of-living adjustments for higher earners, or increasing payroll taxes.

Cuban's four core retirement pillars can help

While Cuban has criticized measures the government has taken to cut benefits indirectly, his bigger message is that you shouldn't rely on Social Security alone. Otherwise, future benefit cuts or restrictions may impact your financial security in retirement.

Instead, consider his four core retirement pillars:

Eliminate high-interest debt before retirement

In a MarketWatch interview, Cuban referred to paying off credit cards and other debt as "the best investment you can make." He reasoned that this is a safer move than actually investing, as you'll receive an immediate return.

This advice especially hits home for those entering retirement. When you're concerned about unreliable Social Security checks, making debt payments on a fixed income is even more dangerous. It also puts you at risk of needing to withdraw more from your retirement savings.

Maintain a cash reserve

"If you don't like your job at some point or you get fired or you have to move or something goes wrong, you know, you're gonna need at least six months' income," Cuban said in a Vanity Fair interview.

While cash reserves are essential at any age, you especially need them when you're receiving Social Security and paying expenses off a fixed income. Benefit cuts or disruptions might lead you to sell your investments at the wrong time, hurting the long-term growth and longevity of your savings.

Invest in low-cost index funds

"Saving money and putting some into a low-cost mutual fund — like an SPX fund — and living as inexpensively as you possibly can, will pay off dividends," Cuban told Money.

When building your savings to supplement uncertain Social Security payments, you might pay a financial advisor to manage your portfolio. Since these fees cut into your wealth, Cuban's advice to choose low-cost index funds, which are passively managed, is key for growing your savings without paying for costly advice or taking on high risks.

Consistently live below your means

In a blog post, Cuban encouraged readers to have discipline and live frugally to save money: "Instead of coffee, drink water. Instead of going to McDonald's, eat Mac and Cheese. Cut up your credit cards."

While this is good advice for building wealth, always living below your means can help you avoid becoming overly dependent on one income source in retirement. It might make the difference between financial stress and stability if your Social Security benefits are lower than expected or your investments have disappointing returns.

Bottom line

While Social Security stability concerns are nothing new, they're more urgent now than five years ago. Government spending cuts are one factor, but you also have to consider that the expected insolvency date for the primary retirement trust fund recently moved up. Greater uncertainty makes preparing your finances even more important.

Take time to check your retirement readiness and make sure you're saving enough to cover future expenses. Also, look at Social Security benefit estimates by age, considering you might only receive a large portion of that amount. 

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