August 20, 2021

Episode 207: “Ask Larry” Kotlikoff How to Get What’s Yours

32 minutes

In this episode, we ask:

Would you like to hear what people are saying?

Who is Larry Kotlikoff?

Would you like to view his books?

What about economics?

Why has the American worker not seen wages not gone up?

What about Irving Fisher?

What about consumption smoothing?

What if you had a freezer full of lifetime frozen steaks?

What did Larry do with his son?

What needs to be paid for “off the top”?

What about his software?

What about your future Social Security benefits?

What about your highest level of a smooth living standard?

What about a the reality of your lifetime budget?

How are these ideas different from conventional planning?

What’s wrong with high yield and high fee stocks?

How bad could the downside be?

What’s the upside?

What is the appropriate level of risk?

Who wants their living standard to drop off a cliff?

What about planning based on life expectancy?

What does economics say?

What is wrong with living too long?

What about Wall Street?

What about life expectancy?

Who will die at the average age?

Can we play the odds with our lifespan?

What about getting a maximum annuity?

What about waiting until age 70 to take social security?

Do you need to apply for the benefit?

What should we plan for?

For example, would you like your living standard to decline at age 75?

How might we deal with unforeseen expenses?

What about long term care policies?

Does your long term care policy account for inflation?

What happens if you need home health care?

What happens if you need a nursing home?

Would you like to order the new book, Money Magic?

What about Social Security?

Is there an enormous incentive to be patient?

What happens if you take Social Security early?

What about the earnings test?

What about the adjustment of the reduction factor?

Will you use benefits if you go back to work?

Can you earn money without losing benefits?

Can you suspend your benefit and start up higher at age 70?

What about the stock market?

What about periods of time where the market drops?

What happened in the Great Recession?

What happened in the early 30s?

What happened in 2000?

Will you be at a permanently lower living standard?

What about risk?

What’s a risk adjusted basis on the stock market right now?

What about DALBAR?

What about an example?

What about Medicare and Social Security?

Is Social Security in the red?

What about the official debt?

What is limited purpose banking?

What about leverage?

What about the mutual fund system?

Have you seen the movie, It’s a Wonderful Life?

Would you like to visit kotlikoff.net?

The topics presented in this podcast are general information only and not for the purposes of providing legal, accounting or investment advice. On such matters, please consult a professional who knows your specific situation.

Laurence J. Kotlikoff is a Professor of Economics at Boston University, a Fellow of the American Academy of Arts and Sciences, a Fellow of the Econometric Society, a Research Associate of the National Bureau of Economic Research, and President of Economic Security Planning, Inc., a company specializing in financial planning software. An active columnist, Professor Kotlikoff’s columns and blogs appear in the Financial Times, Bloomberg, Forbes, Vox, The Economist, Yahoo.com, and the Huffington Post. Professor Kotlikoff received his B.A. in Economics from the University of Pennsylvania in 1973 and his Ph.D. in Economics from Harvard University in 1977.

From 1977 through 1983 he served on the faculties of economics of the University of California, Los Angeles and Yale University. In 1981-82 Professor Kotlikoff was a Senior Economist with the President’s Council of Economic Advisers. Professor Kotlikoff is author or co-author of 16 books and hundreds of professional journal articles. His most recent books are The Clash of Generations (co-authored with Scott Burns, MIT Press), The Economic Consequences of the Vickers Commission (Civitas), Jimmy Stewart Is Dead (John Wiley & Sons), Spend ‘Til the End, (co-authored with Scott Burns, Simon & Schuster), The Healthcare Fix (MIT Press), and The Coming Generational Storm (co-authored with Scott Burns, MIT Press) and Generational Policy (MIT Press). Get What’s Yours: The Secrets to Maxing Out Your Social Security (co-authored with Philip Moeller and Paul Solman) will be published by Simon & Schuster in February 2015.

Professor Kotlikoff’s writings and research address financial reform, personal finance, taxes, Social Security, healthcare, deficits, generational accounting, pensions, saving, and insurance.

Professor Kotlikoff has served as a consultant to the International Monetary Fund, the World Bank, the Harvard Institute for International Development, the Organization for Economic Cooperation and Development, the Swedish Ministry of Finance, the Norwegian Ministry of Finance, the Bank of Italy, the Bank of Japan, the Bank of England, the Government of Russia, the Government of Ukraine, the Government of Bolivia, the Government of Bulgaria, the Treasury of New Zealand, the Office of Management and Budget, the U.S. Department of Education, the U.S. Department of Labor, the Joint Committee on Taxation, The Commonwealth of Massachusetts, The American Council of Life Insurance, Merrill Lynch, Fidelity Investments, AT&T, AON Corp., and other major U.S. corporations. He has provided expert testimony on numerous occasions to committees of Congress including the Senate Finance Committee, the House Ways and Means Committee, and the Joint Economic Committee.

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