There was a time when Social Security benefits were an important, reliable part of retirees' financial plans. But that's the past. The government program is now constantly on the defensive, fighting just to keep up with growing lifespans and its own rising costs. If the Social Security Administration (SSA) were a publicly traded company, most investors probably wouldn't buy its stock.

That's not to say all hope is lost, however. There's plenty you can still do to secure a nice retirement. It's just that you'll want to do it on your own, outside of the federal government's efforts to support its older citizens.

Here are the top three things I'm making a point of doing for myself.

Forget Social Security

Barring a completely unexpected calamity, Social Security will survive. Merely surviving isn't the same thing as thriving, though. You can't exactly afford to put your faith in any organization that's perpetually fixing itself, especially when that organization's options are limited by legislation.

There are three specific reasons I'm viewing any future Social Security retirement benefits as a bonus rather than an expectation.

1. Reduced payouts loom

Anyone reading this has almost certainly heard that the United States' Social Security program is running out of the money it needs to make its future required payments in full. While the estimates vary from one source to the next, most of them agree that without Congressional action, the program will be forced to reduce its promised payments to the tune of 20% sometime in the middle of the 2030s.

It's admittedly difficult to ferret out the accuracy of these projections, and even more so when the matter is being heavily politicized. There's clearly some degree of fiscal strain on the program, though, and Congress hasn't been particularly great when it comes to solving bigger-picture problems.

2. The COLA increases don't actually keep up with seniors' rising expenses

Even if Congress is able to fully preserve the program, it's not like beneficiaries won't suffer a type of reduction in their payments.

The SSA adjusts its monthly payments to retirees every year, in theory by enough to offset the effect of ever-rising costs. These are called cost-of-living adjustments (COLAs), which are based on the previous year's rate of consumer inflation within the U.S.

These adjustments don't necessarily reflect seniors' and retirees' rising expenses. The inflation rate you commonly hear about reflects the change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is distinctly different than the Consumer Price Index for the Elderly (CPI-E).

The CPI-E figure more accurately reflects changes to the cost of living for seniors, who tend to spend disproportionately more than younger people do on healthcare. Numbers crunched by the Senior Citizens League indicate that since 2010, Social Security's retired beneficiaries have actually lost about 20% of their buying power.

3. Whatever the case, it's just not going to be enough

Finally, even if Congress manages to fix Social Security's impending shortfall, and even if its COLAs start keeping up with the actual inflation seniors are experiencing, it still may not matter. The average monthly benefit of a little less than $1,900 is still miles away from the average U.S. household's monthly cost of living of around $6,000. Not even two average Social Security recipients will be able to keep up with that degree of spending. Indeed, even the small number of people collecting the very biggest Social Security payments of $4,873 per month will have a hard time covering that cost of living on their own.

What I'm doing about it

I'm not panicked, though, and you shouldn't be either. Social Security benefits were never meant to be the entirety of anyone's retirement income anyway, and there's plenty you can do to shore up any looming income shortfall. Here's a closer look at the three things I'm prioritizing now so I won't have to worry about it then.

1. Maxing out contributions to my IRAs

Tax-deferring individual retirement accounts (or IRAs) are the most effective means of building wealth now, simply because you get to grow your money without paying taxes on it until you're ready to withdraw it. In some cases (namely a Roth IRA), you're even able to make those withdrawals tax-free, since you're not making tax-deductible contributions to them now.

You can contribute to more than one retirement plan in any given year, too. For instance, you can participate in a work-sponsored 401(k), but also contribute to a self-managed traditional IRA outside of work. You simply can't contribute more than $23,000 of your wages to a 401(k) this year, or more than $7,000 to a traditional or Roth IRA. There are also generous catch-up limits to both kinds of accounts for anyone aged 50 and older. Be sure to review the IRS's materials on contribution caps for more details.

2. Working longer than I'd actually prefer to

Although I'm not exactly excited about the prospect, I intend to work longer than I technically need to in order to maximize my eventual Social Security benefits (however much or little they end up being).

The so-called "full retirement age" for Social Security retirement benefits is either 66 or 67, depending on when you were born. But you don't actually have to claim benefits at that age. You can claim as early as 62, or you can wait until you're 70 to file for benefits. There's a significant cost in filing before reaching your full retirement age, though, just as there's a major benefit in waiting. Claiming at the age of 62 will reduce your monthly benefit by as much as 30%, while postponing these benefits until you turn 70 will increase them by as much as 24%.

Fortunately, I'm in good enough health that I can make such a plan. I also love what I do, which makes it easier to continue doing it. I do recognize, however, that not everyone has this attractive option.

3. Maximizing my returns while minimizing my risk

Although it's obvious, it needs to be said all the same -- I'm making a point of being a better, smarter investor.

Yes, that means owning more fruitful stocks, exchange-traded funds, and mutual funds. It also means taking less risk that could force me to make ill-advised defensive moves later. I don't mind nursing predictable setbacks. I've even planned for them. Unexpected trouble is a different story, readily wrecking a top-down portfolio plan.

This might help make the point: Earning an average annual return of 10% on a $100,000 investment will grow that money to a sum of $1.74 million over the course of 30 years. If that average annual return is pared down to only 9%, I'd end that three-decade stretch with about $400,000 less. The disparity widens the longer you invest, and the more money you invest. The nickels and dimes clearly add up over time.