Mark Cuban Has a Social Security Warning Every Senior Needs to Hear

One of the biggest and most surprising financial mistakes is assuming you can live on Social Security alone. But unfortunately, many people reach retirement age with little to no money saved for their senior years. So inevitably, Social Security becomes a critical income stream.

But Social Security faces challenges that could negatively affect current and future retirees alike. According to the 2026 OASDI Trustees Report, the program is at risk of depleting the Old-Age and Survivors Insurance (OASI) Trust Fund by the end of 2032, resulting in roughly a 22% cut to benefits afterward. Reductions in SSA staff also make it harder for people to access their benefits.

Entrepreneur and former "Shark Tank" star Mark Cuban recently sounded a major warning about Social Security, and it's worth paying attention if you're currently receiving benefits or plan to file for them in the future.

Why Mark Cuban is sounding the alarm on Social Security

Between January 2025 and April 2026, the SSA reduced its headcount by around 8,000 employees, the largest cut to SSA staff in history.

Mark Cuban has not been afraid to criticize the SSA for that drastic staff reduction. As he posted on BlueSky, "The administration is removing phone support for Social Security recipients. Making it more difficult for seniors to get their checks. It's a back door way to cut SS benefits. Horrific."

That wasn't the only time Cuban called out the SSA for cutting services.

He also posted on X, "Got to give Doge credit for being the first to cut entitlements. 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!"

Reduced Social Security staffing is taking a toll

Cuts to the SSA staff have raised concerns about how easily seniors and other beneficiaries can get help when they need it.

Thirty-three states lost at least 10% of their SSA staff during fiscal 2025, according to an analysis from the Center for American Progress, while some individual field offices lost a quarter or more of their employees. Some rural offices have closed altogether. 

The staffing losses haven't necessarily translated into longer waits everywhere. The SSA claims to have significantly improved several customer-service measures in 2026. For example, the average speed of answer on its 800 number fell to 0.6 minutes in July 2026, compared with eight minutes a year earlier. The agency also says average field-office wait times are down about 30% from fiscal 2024.

Those numbers don't tell the whole story, though. The SSA's average-speed-of-answer figure doesn't include the time callers spend waiting for a callback. An SSA inspector general review found that, in fiscal 2025, the average callback wait was about 1 hour and 2 minutes in September, after peaking at more than 2.5 hours earlier in the year.

Meanwhile, a survey cited by the Center for American Progress found that 65% of SSA employees said service quality had declined over the previous year, while 70% said service speed had declined.

For seniors, that means the picture is complicated. Social Security has made measurable progress in reducing some wait times, but the agency is doing so with a significantly smaller workforce. And for people dealing with complicated claims, appeals, disability benefits, or payment problems, fewer experienced employees can still make getting the right help harder.

A less obvious benefit cut

Social Security's staffing reduction isn't a direct benefit cut. But Cuban and other critics argue that it's an indirect cut.

Reduced access to customer service at the SSA means retirees may have to wait longer to resolve payment errors or navigate complex claims. And a reduction in field office appointment availability could make it much harder for seniors who aren't tech-savvy to file for benefits in the first place. This, says Cuban, is a real problem.

How to access the benefits and information you need

If you're gearing up to file for Social Security benefits, you should know that limited access to customer service could make that more difficult. But you don't have to panic. You can take steps to make the benefits-claiming process much smoother.

First, set up a my Social Security account at SSA.gov so you can file for benefits online. This will also allow you to review your earnings record.

Remember, your monthly Social Security benefits are calculated based on your personal wage history. If the SSA has incorrect information for you on file, it could result in smaller benefits than what you're actually entitled to. So it's important to review your earnings statements for accuracy, which you can do once you create that account.

If you can't file for Social Security benefits online or aren't comfortable doing so, locate your nearest remaining SSA field office and schedule an appointment ahead of time. Because appointments may be limited, the sooner you do that, the less delay you may experience in getting benefits.

Finally, once you sign up for benefits, aim to have them go to your bank account each month through direct deposit. That could help you avoid delays in getting your money once your Social Security claim is approved.

Bottom line

If you don't have much savings for retirement, Social Security could become a critical source of income for you. But with reduced access to customer service, filing for Social Security and resolving payment issues could get trickier.

Though some lawmakers are putting pressure on the SSA to restore staffing levels and improve customer service, it's important to be proactive about accessing your benefits and earnings history details. The more steps you take to file efficiently, verify your earnings record, and maximize your senior benefits, the less likely you are to encounter hiccups as the agency continues to grapple with an overwhelmingly reduced headcount.

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