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Social security funds are running out, new data shows

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Social security funds are running out, new data shows originally appeared on TheStreet.

The Old-Age and Survivors Insurance and Disability Insurance trust funds are projected to deplete their assets by 2033, as stated in the Social Security Board of Trustees’ annual 2025 report. At that time, only about 77% of scheduled benefits will be payable.

The projected depletion year for the combined Social Security trust funds is 2034, at which time only 81% of the benefits will be payable. Similarly, the Hospital Insurance fund of the Medicare program is projected to be depleted as soon as 2033.

This emerging retirement insecurity is prompting many younger Americans, particularly Millennials and Gen Z, to explore alternatives beyond conventional savings, as per reports dated April 2025.

The survey also found that 20% of respondents from Gen Z and Generation Alpha would accept their pension in whole or in part in cryptocurrency, with 78% of respondents trusting alternative retirement savings options more.

Furthermore, 60% of Gen Z and millennials plan to increase their crypto holdings, and two-thirds aim to expand their investments; over half of them already allocate retirement assets to cryptocurrencies.

With 62% of respondents intending to engage in Fidelity’s crypto-oriented IRA, the future holds a closer integration of cryptocurrency in retirement strategies.

With 21% of Americans already dedicating more savings to crypto than to conventional stocks, almost half of Americans allocate a sizable amount—10% to 20%—of their retirement money to cryptocurrencies.

However, enthusiasm for cryptocurrency hasn’t been matched by mainstream financial professionals and regulators, including the U.S. Department of Labor, which has warned against using cryptocurrency for retirement accounts, citing concerns about volatility, fraud, and valuation issues, according to Investopedia.

Retirement advisor Ric Edelman recently advised holding crypto of about 10% to 40% as a small part of a retirement portfolio.

Social security funds are running out, new data shows first appeared on TheStreet on Jun 18, 2025

This story was originally reported by TheStreet on Jun 18, 2025, where it first appeared.

At TC All Stage Charles Hudson will tell you what investors really see

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At the pre-seed stage, there’s not much for a VC to analyze — no revenue curve, no retention metrics, no CAC. That doesn’t mean they’re guessing. It means they’re watching everything else. At TechCrunch All Stage 2025 on July 15 in Boston, Charles Hudson, managing partner and founder of Precursor Ventures, will walk founders through the subtle, high-stakes signals that matter when data is scarce and the pitch is everything.

In his session “All the Ways You Don’t Realize VCs Are Evaluating Your Company at Pre-Seed,” Hudson will pull back the curtain on how investors assess early-stage opportunities and why founders often underestimate the weight of seemingly small choices.

Lean into this thought-provoking discussion at TC All Stage, featuring founders and VCs across all stages. Register now to save up to $210 before the June 22, 11:59 p.m. PT deadline.

TechCrunch All Stage 2025 Charles Hudson

It’s not just about the idea. It’s about how you run the show.

From your choice of co-founder to how you run your fundraising process, everything you do—or don’t do—is a signal. Charles Hudson will highlight the common red flags that spook investors before a single term sheet is on the table. For example, mismatched co-founder dynamics can suggest poor hiring instincts. Sloppy outreach? That signals you haven’t done the work. These are the unspoken cues that can make or break a round—and most founders never hear about them.

Charles Hudson breaks it all down at TC All Stage

Hudson has seen it all. As the founder of Precursor Ventures, he has been one of the earliest believers in breakout startups long before they had the traction to prove themselves. He built his firm to back founders at the riskiest moment, before it was obvious. Before that, as a partner at SoftTech VC, he was deep in the world of mobile infrastructure. He knows the markers of long-term potential, and he is not guessing. He is pattern-matching with purpose.

For early founders, this is the session that could change your trajectory.

TC All Stage is happening on July 15 in Boston’s SoWa Power Station, powered by Fidelity Investments. It’s a one-day summit for startup builders who want practical, unfiltered insights from the experts who’ve done the work. Come for the playbook. Stay for the signal check. Charles Hudson is bringing both. Register now to save up to $210 on your ticket before June 23.

Nathan Aké: Don’t bring CWC’s individual walkouts to Premier League

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PHILADELPHIA — Nathan Aké has told the Premier League to resist the temptation to copy the individual pre-game walkouts that have been introduced at the Club World Cup.

Romeo Lavia has said that he would like to see the FIFA initiative adopted in England‘s top flight.

The Chelsea midfielder said the individual walkouts were “something special.”

But Ake has rejected the suggestion that they should be made a part of the pre-game routine in the Premier League, with the Netherlands defender saying he thinks they should “keep it how it is.”

“I’m not sure,” said Ake when asked whether the Premier League should introduce individual walkouts.

“To be honest, the Premier League, keep it how it is and what we do now. I think, keep it as it is.”

Ake started against Wydad AC in Philadelphia on Wednesday as City began their Club World Cup campaign with a 2-0 win.

The 30-year-old endured a frustrating season in which injuries restricted him to just 10 league appearances.

City manager Pep Guardiola has hinted that he only wants durable players in his squad after being decimated by injuries last season.

Ake is hopeful his problems are behind him and that he can keep making himself available.

table visualization

“I feel good,” he said.

“I had my first 60 [minutes] with the national team, this was my first 90 [against Wydad] in a little while so obviously more to come but this game was important in the group and it’s a good start for me.

“It was very tough [last season], I basically always tried to push, tried to come back as quick as possible.

“Then I got injured again and mentally it can be tough, it’s never easy, but luckily that’s done now and hopefully now I can stay fit and keep performing.”

Anna Camp, Girlfriend Jade Whipkey Red Carpet Debut

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Anna Camp‘s new romance is aca-official. 

After debuting their relationship on social media last month, the You actress and girlfriend Jade Whipkey made their red carpet debut at the Los Angeles premiere of Bride Hard on June 18.

For the occasion, Camp rocked a seafoam green column dress with bubbly sequin embellishments, wearing her blonde hair slicked back to complete the mermaid-esque look. Meanwhile, her partner donned an oversized grey suit and white sneakers as they stepped out at the DGA Theater Complex to celebrate the new film, which sees Camp reunite with her Pitch Perfect costar Rebel Wilson onscreen.

Whipkeya set designer and styling guru—also showed her support on social media, sharing a pic from the screening and telling fans to “Go watch” on June 20.

Of course, Bride Hard isn’t the only big milestone in Camp’s life, as she confirmed her romance with Whipkey back in May. 

At the time, Camp reshared a sweet message from Whipkey in which she wrote, “Her smile is a poem, her eyes are roses, her laugh is music for dancing.” 

The actress—who finalized her divorce from Pitch Perfect costar Skylar Astin in 2019 after less than two years of marriage—also gave a glimpse into a romantic meal they shared with wine, captioning it, “Date night.”

'I think it's art' – Earps on her love of goalkeeping

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Former England star Mary Earps discusses her passion for goalkeeping and the pressures of playing in the position.

NYPD investigating car bomb threat against mayoral candidate Mamdani

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Police in New York are investigating car bomb threats against Democratic mayoral candidate Zohran Mamdani, according to a Thursday release from his campaign.

Mamdani said a repeat caller has been leaving “alarming” voicemails.

“While Zohran does not own a car, the violent and specific language of what appears to be a repeat caller is alarming and we are taking every precaution,” Mamdani said in a statement sent to The Hill by his campaign.

“While this is a sad reality, it is not surprising after millions of dollars have been spent on dehumanizing, Islamophobic rhetoric designed to stoke division and hate. Violence and racism should have no place in our politics. Zohran remains focused on delivering a safe and affordable New York,” the statement added.

The New York State Assemblymember’s reports of violent threats come after New York City Comptroller Brad Lander, a fellow Democratic mayoral candidate, was arrested while leaving immigration court.

It also follows a “politically motivated” shooting involving two Democratic lawmakers in Minnesota.

“This is an atrocious threat of political violence against Mr. Mamdani. It is unacceptable —I strongly condemn these threats and any others like them. This has no place in our politics or our society. Thankfully no one was harmed,” Andrew Cuomo, a Democratic candidate for mayor, wrote in a Thursday post on X. 

“This is a pivotal time in this country and we need to tone down the rhetoric and focus on the people’s agenda,” he added.

Mamdani and Cuomo had a notably heated moment during the June 12 candidate debate. The former slammed the latter for past misconduct and mispronouncing his name.

“I have never had to resign in disgrace. I have never stolen hundreds of millions of dollars from the MTA. I have never hounded the 13 women who credibly accused me of sexual harassment. I have never sued for their gynecological records. And I have never done those things because I am not you, Mr. Cuomo,” Mamdani said during the debate.

“The name is Mamdani, M, A, M, D, A, N, I. You should learn how to say it,” he added.

Cuomo and Mamdani are neck and neck with voters, separated by 10 percentage points— 55 percent to 45 percent— according to a June poll from the Marist Institute for Public Opinion.

Jared Gans contributed to this article.

Read the June FOMC Statement

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Read the June FOMC Statement

Cathy Gao’s bringing the real playbook to TC All Stage

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Growth-stage fundraising is picking up speed again, but it’s not the same game it used to be. At TechCrunch All Stage 2025 on July 15 in Boston, we’re bringing in someone who knows how the rules have changed and how to win in today’s market: Cathy Gao, partner at Sapphire Ventures.

TechCrunch All Stage 2025 Cathy Gao

Gao has backed breakout startups like Culture Amp, Gem, Sword Health, and EliseAI. She’s sat on both sides of the table as an investor and operator. At Gusto, she helped scale post–Series B. Now, she’s helping founders cut through the noise and land deals in an increasingly competitive environment.

Don’t miss Cathy’s insights. Register before June 23 to save up to $210.

This isn’t theory. This is what’s working now.

In her session “The New Rules of Growth-Stage Fundraising: How to Win at Raising a Series C & Beyond,” Gao will unpack how GenAI is driving a resurgence in later-stage funding — and why most founders still miss the mark. She’ll break down what top-tier investors are really looking for in today’s deals, how to sharpen your pitch, and where to focus if you’re raising in the $30M+ range.

If you’re scaling a breakout AI company or just trying to stay relevant in this high-stakes landscape, this is the tactical session you don’t want to miss.

TC All Stage is one day. But what you learn will power your scaling.

TechCrunch All Stage 2025 kicks off July 15 at Boston’s SoWa Power Station, powered by Fidelity Private Shares. It’s a full day of founder how-to, hard-won lessons, and high-impact conversations with the people actually writing the checks at every stage of scaling.

Bring your cofounder. Your head of finance. Your future term sheet. Just don’t miss Cathy. Register now to save up to $210 before the June 22 deadline at 11:59 p.m. PT.

Richards saves the day for the USMNT, but questions remain

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AUSTIN, Texas — The first half was a brutal watch for those sitting in the stands at a half-full Q2 Stadium. Battling with a stiflingly humid 96-degree evening, the U.S. men’s national team were locked at 0-0 against an organized Saudi Arabia team in their second Gold Cup group stage match.

Sluggish, lackluster, and lacking any dynamism, head coach Mauricio Pochettino looked exasperated at his wilting squad — a stark contrast from the vibe in Sunday’s 5-0 thrashing of Trinidad and Tobago in their tournament opener.

“We want to win, but at the same time it’s to help the players to perform and to knock [on] the door and say, we can perform for the national team and we can be involved in the next World Cup,” stated Pochettino after the previous victory, looking fully confident for the upcoming match against Saudi Arabia.

“That is what I expect. Win, and the players really believe that they are having the opportunity…[to] fight for a place in the World Cup.”

With plenty of starters and key figures missing from this summer’s roster, the narrative was set for an up-and-coming attacking name or fringe option (like a Diego Luna) to save the day against Saudi Arabia. Instead, the hero of the night — someone who’s well-versed in the Texas heat — was defender Chris Richards.

Diving into a cross from Sebastian Berhalter off a free kick in the 63rd minute, the FA Cup winner (with Crystal Palace) converted to give the USMNT a 1-0 lead they would not let slip, booking their spot in the Gold Cup quarterfinals with two wins from two matches to open the competition.

Celebrating the goal with his arms wide and seeming to glide better than any member of the attack, Richards was not only the savior with his goal but also served as a reminder of the resilience that this USMNT roster — missing plenty of key players this summer — will need to have at the Gold Cup.

Let’s not forget the best play of the first half either, which also involved Richards. Long before his goal, Richards provided a defensive intervention in the 31st minute that was just as worthy of his scoring effort. His stats, aside from the goal itself, also speak for themselves. Five clearances, two blocked shots, a 100% success rate in aerial duels, 95% accuracy rate with his 74 passes — the list continues for what will go down as a memorable night for the 25-year-old, who played academy soccer just across the state with FC Dallas.

But that’s the good news for the USMNT. The bad news? Pochettino can’t exactly rely on one of his central defenders to save the team in every game.

As superb as Richards was on Thursday, the opposite could be said of most of the rest of the XI that still has much to prove in this Gold Cup. Going back to what Pochettino had said earlier, the hope was to not only succeed in the international competition, but to also find more roster depth for the World Cup that begins in 12 months.

In a summer that’s missing marquee headliners like Christian Pulisic, Weston McKennie, Timothy Weah, Giovanni Reyna, Antonee Robinson, Yunus Musah and Sergiño Dest (for a variety of reasons), the hope was that after last Sunday’s eye-catching 5-0 win, more would continue to step up in the second group stage match.

Richards, a likely starter in a best XI, is far from that. While plenty of praise should be deservedly given to the standout player on Thursday, who has officially helped book a place in the knockout round, the U.S. didn’t really gain much when it came to new faces being able to make their mark and challenge the missing starters.

And if that continues, they may not last much longer beyond the quarterfinals.

Looking at other title-contenders like Canada and Mexico, Pochettino and the rest of Richards’ teammates can’t afford to be as predictable and lethargic as they were on Thursday. They’ll have one last tune-up with a group stage closer against Haiti on Sunday, but after that, the true fiery tests will emerge that far exceed the sweltering conditions in Austin.

But at the very least, against Saudi Arabia in a result that has avoided an early Gold Cup catastrophe, fans of the USMNT can rest easy knowing that Richards was able to safely put out the fire.

Sami Sheen Slams Sister Lola Sheen Amid Charlie Sheen Feud

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Lola, who was just 3 when It’s Complicated premiered, grew up to be very different than her boundary-pushing older sister.

Born June 1, 2005, she is a woman of God and a devout Christian.

“I can’t explain it other than it literally was supernatural,” the restaurant hostess told People in an interview published Feb. 2025 after getting baptized in the church. “Jesus rescued me and he completely rewired my mind. He became my Savior, but also my best friend.”

The teen also shared how religion saved her from the darkness of depression.

“I felt so lost and hopeless, and was just doing my best to make it to the next day,” she admitted on Instagram. “He gave me a light, when I couldn’t find my own, and rescued me from the darkness. Jesus saved me from battling severe anxiety, and gave me a peace that makes no sense.”