Category: Financial -Landing 2013

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11/6/2013 - The real reason behind Social Security's problems (MoneyWatch)

by on November 6, 2013 7:59 pm
The real reason for the pending funding crunch? People are having fewer children, said Steve Goss, the Social Security Administration’s chief actuary recently at the annual meeting of the Society of Actuaries in San Diego. Read the full article at CBS MoneyWatch.
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11/4/2013 - Will Social Security run out of money? (MoneyWatch)

by on November 4, 2013 7:15 pm
Social Security is not in financial trouble, at least not under the current laws that govern the retirement program. That’s the unequivocal answer from Steve Goss, chief actuary for the Social Security Administration, who spoke recently about Social Security’s funding challenges at the annual meeting of the Society of Actuaries in San Diego. Read the… Read more 11/4/2013 - Will Social Security run out of money? (MoneyWatch)
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11/3/2013 - How much are we willing to pay for the pursuit of happiness? (LA Times)

by on November 4, 2013 7:14 pm
Research by Notre Dame political scientist Benjamin Radcliff suggests that social programs produce a happier population. Read the full article at  Los Angeles Times.
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11/3/2013 - Politics Poll: Older Americans Nix Social Security Changes (ABC News)

by on November 4, 2013 7:13 pm
Raise the age at which you can begin collecting full Social Security benefits? Older Americans say no. They also veto reductions in the cost-of-living increase. But a poll finds support among those 50 and older for raising the cap on earnings that are taxed to fund the Social Security program so higher-income workers pay more.… Read more 11/3/2013 - Politics Poll: Older Americans Nix Social Security Changes (ABC News)
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10/31/2013 - Column: Can expanding Social Security solve the retirement crisis? (Reuters)

by on November 1, 2013 9:18 pm
I asked a financial services executive recently how our retirement saving system can be considered a success, considering that all but the highest-income households are approaching retirement with next to nothing saved. His reply: “They don’t have any money while they’re working, so why would they have any money in retirement?” Read the full article… Read more 10/31/2013 - Column: Can expanding Social Security solve the retirement crisis? (Reuters)
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10/31/2013 - The Myth That Baby Boomers Are Stealing Jobs (U.S. News & World Report)

by on October 31, 2013 6:57 pm
Policymakers can boost income and payroll tax revenue by taking steps to facilitate longer working lives – for example, by changing the structure of Social Security and Medicare so that they stop punishing work at older ages. Some have objected to such recommendations, arguing that older workers who stay on the job longer make it… Read more 10/31/2013 - The Myth That Baby Boomers Are Stealing Jobs (U.S. News & World Report)
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10/30/2013 - Arguments Over Social Security Pit Old Vs. Young (NPR)

by on October 31, 2013 6:52 pm
Congress has until Jan. 15 to come up with another spending plan. As they negotiate, one thing you’ll hear a lot about is overhauling entitlement programs — particularly Social Security. The program accounts for about 20 percent of federal spending. One argument in favor of cuts is that Social Security amounts to a huge transfer… Read more 10/30/2013 - Arguments Over Social Security Pit Old Vs. Young (NPR)
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10/30/2013 - Why raise Social Security full retirement? (MarketWatch)

by on October 30, 2013 6:44 pm
Last week’s blog post argued that Social Security’s real retirement age is 70.  Monthly benefits are highest at age 70 and are actuarially reduced for each year claimed before that age.  Claiming at 62 instead of 70 lowers a hypothetical monthly benefit from $1,000 to $568.  Age 70 became Social Security’s retirement age with the… Read more 10/30/2013 - Why raise Social Security full retirement? (MarketWatch)
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10/29/2013 - Boomer job seekers face less competition (MarketWatch)

by on October 29, 2013 5:45 pm
The job market took a small step forward recently: A higher number of job openings in August meant there were fewer job seekers competing for each spot. But your job-hunting experience will vary widely depending on which industry you’re in. For older workers, the news is mixed. While their unemployment rate dipped, those 55 and… Read more 10/29/2013 - Boomer job seekers face less competition (MarketWatch)
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10/28/2013 - Middle class struggling to save for retirement (LifeHealthPro)

by on October 29, 2013 4:55 pm
As it becomes harder and harder for middle class Americans to meet their monthly financial obligations, funding their retirement is becoming less and less of a priority; a trend that will lead to Americans working longer, which could have widespread social and economic implications for the country. Read the full article at LifeHealthPro.