One reader writes that he and his wife can start collecting Social Security earlier than age 70, as Social Security expert Larry Kotlikoff discourages, with a very small downside for the long term. But today, Larry urges him to reconsider just how long the couple will live. Continue reading
Social Security expert Larry Kotlikoff has repeatedly warned that the Social Security system is underfunded. Why then does his new best-selling book tell readers how to collect as much as possible in benefits? Perhaps surprisingly, he explains, most of the extra benefits he wants readers to collect don’t come out of the system’s pocket. Continue reading
As Baby Boomers approach retirement, the Millennial generation is getting its foothold in the workforce, and facing financial challenges making it hard to save for later years. Judy Woodruff talks to Jen Mishory of Young Invincibles and David John of AARP about the different factors that have shaped each generation’s saving habits and how young Americans can meet their retirement goals. Continue reading
A reader’s insurance agent says that everyone’s premiums are going up. But the reader wonders if he could be spending less. Making Sen$e Medicare Maven Phil Moeller tells him what to look for. Continue reading
WASHINGTON — Democratic officials say Sen. Barbara Mikulski, the longest serving woman in the history of Congress, is ready to announce her retirement.
The longer you wait before cashing in on Social Security benefits, the greater the financial reward. But many don’t wait until age 70. There’s a range of loopholes and “secrets” that can improve your benefits, a fact economics correspondent Paul Solman discovered during a tennis game with friend and Social Security expert Larry Kotlikoff. Their new book, “Get What’s Yours,” shares that knowledge. Continue reading
Ever feel like you need a translator to understand what the Social Security Administration is trying to tell you? You’re not alone. As part of his new book, co-authored with Making Sen$e’s Paul Solman and Phil Moeller, Social Security expert Larry Kotlikoff shows how Social Security has perfected the art of incoherence. Continue reading
WASHINGTON — The Obama administration is proposing tougher restrictions on brokers who manage Americans’ retirement accounts, reigniting a confrontation with the financial services industry over rules affecting trillions of dollars in 401k and other savings accounts.
Average wealth in America has grown over the past 50 years, but not at the same rate for everyone. Wealth gaps, especially between whites and non-whites, are growing. In 2013, the average white family had seven times the wealth of average African American families and six times the wealth of Hispanic families, according to an Urban Institute analysis released Wednesday. Continue reading
One day while playing tennis, Social Security expert Larry Kotlikoff informed Paul Solman about a strategy for maximizing the benefits that he and his wife were eligible to collect. They decided everyone else should know that secret, too, and are sharing it in a book to be published this week. Continue reading