Social Security is on the brink of some significant changes. While the program is unlikely to disappear entirely, financial professionals believe future Social Security benefits will be less than projected. That means future retirees may have to wait longer to collect full benefits.

The reason? Social Security uses the taxes workers pay today to fund benefits for current retirees. Right now, more money is coming in than is going out. The U.S. Social Security Administration estimates that this flow will reverse, creating a deficit, beginning in 2042.

There are a variety of solutions to this problem. The most obvious one is raising taxes. Unfortunately, this option is also the least politically and economically feasible, says Thrivent Financial regional sales consultant Dennis DeGidio.

"There’s a limit to how much we can raise taxes. You can only take so much out of the income stream and still have a viable economy," he notes.

Instead, it’s likely that the age at which future retirees can access either full or partial Social Security benefits will rise. And tomorrow's full benefit may be less than what you might expect.

Now more than ever before, investors should plan to supplement their Social Security income with their own personal investing strategy. To get started, DeGidio suggests that you answer a series of questions:

1. How many years of retirement can you reasonably expect to enjoy?
2. How will you spend your retirement dollars? Traveling and buying a boat will cost more than staying home and gardening.
3. What provision will you make for long-term care expenses or insurance? "If you think long-term care insurance premiums are expensive, you should try paying for custodial care without insurance," says DeGidio.
4. Will you spend all your money during your lifetime?
5. With what level of risk are you comfortable? Some people are happy making very aggressive investments; others find that aggressive investing makes it hard to sleep at night.

A Thrivent Financial representative can help you estimate how much money you’ll need for retirement (in future dollars). Studies show that most investors have underestimated this amount, often because they are counting too heavily on Social Security benefits.

With changes on the horizon, meeting with a Thrivent Financial representative can help ensure you’re on track to a comfortable retirement.