These days, it seems everyone is talking about the volatility of the Social Security programs. Both the Supplemental Security Income and Social Security Disability Insurance programs are on shaky ground. Recently, a news report published by Daily Finance highlighted an interesting approach to the 'salvation' of SSDI and SSI. No, the ideas presented in the story don't change the complications many Americans are currently facing as they stare down the Social Security Administration, but they're certainly worth a closer look.

In most cases, the payment window for Social Security is between the ages of 62 and 70. The longer a person waits to file, the bigger their Social Security checks will be. The idea presented in the article suggests allowing people to wait even longer past the age of 70 to file for Social Security -- with the promise of a larger return of course -- or allowing people to take only a portion of what they're owed in exchange for larger payments later. Insurance authorities think these extra options could save the entire Social Security system, which is predicted to go belly up in 2036.

One man, who developed an annuity program that pays income for life, believes these customized options are a way to save the program between $200 and $400 billion over the next 10 years. Still, at some point in the future, those benefits have to get paid and those big savings could be depleted too. So is it really a solution? And what could it mean for you?

As of now, not much -- but it is something to think about. The entire Social Security system -- including disability benefits and SSI -- serves as an important safety net for millions of Americans. Anything that might be able to help sustain it longer is something to consider. In the meantime, it might be comforting to know that you don't have to face Social Security Disability Insurance or Supplemental Security Income issues alone. The red tape and the questions can certainly be stressful, which is why it might be beneficial to seek helpful, knowledgeable advice.

Source: Daily Finance, "A Simple Money Move That Could Save Social Security," Dan Caplinger, Jan. 20, 2012