Jean Chatzky, author and former NBC "Today" show financial editor, has revealed that an increasing number of workers preparing for retirement are worried about Social Security. New federal estimates show that the Social Security Administration's combined trust funds will be depleted in 2034, a year earlier than the projected year. A survey by AARP revealed that confidence in Social Security's long-term funding has declined 7 percentage points since 2020. Nearly two in three retired Americans rely heavily on Social Security, while another 21 percent rely on it somewhat. Because Social Security benefits rarely provide enough income to cover basic living expenses in retirement, workers need to build their own savings throughout their careers. Chatzki recommends saving 10% of income annually, including employer matches, if one starts before mid-thirties, or 15% if they begin later. She also suggests that consistent saving is what ultimately frees up more room in the budget to boost 401(k) contributions.