According to a University of Pennsylvania economist, just three questions can serve as a barometer of financial literacy. Do give them a try. I’ve listed the correct answers at the end of today’s post: As a pension expert, Wharton School…
The 2014 Social Security Trustees Report says that after we deplete the remains of the program’s trust funds in 2033, payroll taxes will not provide all promised benefits.
Yesterday, the odds on intrade were 76% that the Supreme Court will declare the health care insurance mandate unconstitutional. This started me thinking about Social Security during 1935. Several states had old age insurance and the federal government was feeling the…
When you combine better health care with generous pensions you get (choose one): happy retirees happy politicians insufficiently funded national pension programs the eurozone the United States other To select an answer let’s begin with 1935. Just passed, the…
Ask a 56-year old and a 26-year old about Social Security and you will probably get very different answers. In the NY Times, an unemployed 56 year old woman said: “My investments took a bath, then being out of work…
The ratio is 3 to 1. The “3” is how much Medicare recipients are receiving. The “1” is what they paid. Still though, you can see from this NPR report why most people call Medicare an entitlement. According to a…
Too much regulation? Senator Mark Warner’s proposed legislation is an interesting approach. Concerned that regulation is “stifling fresh investment and discouraging innovation,” Senator Mark Warner says the incentives have to change. Currently, when federal agencies create new rules, their power…
The average social security check received by a retired grandma is $1169. Multiply that by 35 million recipients, add to it other social security obligations, and this year, you have more money leaving than entering the social security “bank account”.…
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