Podcast appearances and mentions of larry kotlikoff

Make 2025 your year! Free 2-part Workshop to build 3 new habits January 3 and 10th  – 12 Noon Eastern – 1 hour via Zoom Sign Up here _________________________ While we focus on the non-financial aspects of retirement here, your money clearly matters. With a new year around the corner we check back in with economist Larry Kotlikoff, author of Money Magic: An Economist's Secrets to More Money,Less Risk and a Better Life, for his views on what may lie ahead, common mistakes to avoid with Social Security, how you can Maximize (Your) Social Security, why Roth IRA conversions make sense for many people and his retirement planning software MaxiFi. Larry Kotlikoff joins us from Rhode Island. _________________________ Bio Laurence J. Kotlikoff is a William Fairfield Warren Professor at Boston University, 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, President of Economic Security Planning, Inc., a company specializing in financial planning software, a Research Associate of the Gaidar Institute, and a Research Fellow of the Goodman Institute. Kotlikoff is also a New York Times Best Selling author. The Economist Magazine ranked Kotlikoff one of the world's 25 most influential economists. 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, Kotlikoff 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's writings and research address personal finance, inequality, taxation, Social Security, climate change, investing, healthcare, deficits, and insurance. Professor Kotlikoff is author or co-author of 20 books, hundreds of professional journal articles, and a multitude of op eds and blogs. His most recent books are Money Magic: An Economist's Secrets to More Money,Less Risk and a Better Life, You're Hired, Get What's Yours – the Revised Secrets to Maxing Out Your Social Security (a NY Times Best Seller co-authored with Philip Moeller and Paul Solman), The Clash of Generations (co-authored with Scott Burns), The Economic Consequences of the Vickers Commission, Jimmy Stewart Is Dead, Spend ‘Til the End, (co-authored with Scott Burns), Generational Policy (MIT Press), The Healthcare Fix, and The Coming Generational Storm (co-authored with Scott Burns). Kotlikoff's columns have appeared in The NY Times, The Wall Street Journal, The Washington Post, The Hill, The Financial Times, The Times of London, Forbes, CBNC, Bloomberg, PBS NewsHour, The Dallas News, Neue Zürcher Zeitung, the Seattle Times, Vox, Fortune, Seeking Alpha, Yahoo.com, VoxEU, Huffington Post, and other leading media. Kotlikoff has served as a consultant to the Federal Reserve, 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. Kotlikoff has provided expert testimony on numerous occasions to committees of Congress including the Senate Finance Committee, the Senate Budget Committee, the House Ways and Means Committee,

In this podcast, Chris Battaglia talks with economist and author of “Money Magic: an Economist's Secrets to More Money, Less Risk & Better Outcomes”, Larry Kotlikoff, to discuss his innovative financial planning tools, Maxifi.com and MaximizeMySocialSecurity.com. The episode emphasizes the latest feature of the Maxifi Planner—the Roth conversion optimizer—which helps maximize lifetime discretionary spending by strategically planning Roth … Continue reading Episode 242 – The Wealth-Building Power of Roth Optimization with Chris Battaglia & Larry Kotlikoff →

Kamala Harris and Donald Trump both have proposed eliminating taxes on tips for service workers. While seemingly beneficial, it might just not add up according to renowned economics expert Larry Kotlikoff. Named one of the world's 25 most influential economists by The Economist Magazine, Kotlikoff has advised the Federal Reserve, the International Monetary Fund, the World Bank, and various other prestigious organizations. He is also a Professor of Economics at Boston University, with expertise spanning personal finance, inequality, taxation, Social Security, climate change, investing, healthcare, deficits, and insurance. The “Distinguished” podcast is produced by Boston University School of Hospitality Administration. Host: Arun Upneja, DeanProducer: Mara Littman, Director of Corporate and Public RelationsSound Engineer and Editor: Andrew HallockGraphic Design: Rachel Hamlin, Marketing Manager Music: “Airport Lounge" Kevin MacLeod (incompetech.com)Licensed under Creative Commons: By Attribution 4.0 Licensehttp://creativecommons.org/licenses/by/4.0

Order Glenn’s memoir, LATE ADMISSIONS: CONFESSIONS OF A BLACK CONSERVATIVE. Available here or wherever you get your books: https://wwnorton.com/books/9780393881349 0:14 Larry Kotlikoff for President? 5:40 Larry's plan to save social security 9:30 Reincentivizing work, saving, and staying in the US 14:55 Rewriting the story about income and labor 21:08 Why a 10% tariff could amount […]

Today's episode is part 2 of David's interview with Dave Hall. David shares his thoughts about moving the retirement age to what it currently is. Dr. Larry Kotlikoff has suggested raising taxes to 4% – 2% on the employee and 2% on the employer – as a way to solve the issues around Social Security. David sees the combination of pushing back the retirement date and increasing revenue as a valuable avenue to tackle the Social Security issue. Dave and David talk about the current and future state of Medicare.  Medicare is the largest of the three programs that constitute the $239 trillion underfunding. David touches upon David Walker's answer to the question “Do you foresee a future in which they could raise income taxes to pay for that underfunding?” States like California and Washington are concerned about the future viability of their Medicare programs because of all the long-term care needs the country has. There's a 70% chance that, among spouses, one will end up needing long-term care. David unpacks the potential repercussions of that.     Mentioned in this episode: David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free 3-part video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com Dave Hall Dr. Laurence Kotlikoff Suze Orman David M. Walker

Last year, one million Americans got a letter in the mail – the Social Security Administration miscalculated their benefits. They had been overpaid, and now, the government wanted that money back within 30 days. How much money? In one couple's case, it was almost $70,000 and in another's, it was $52,000. Most of us don't have thousands of dollars to spare. Especially when we're retired or nearing our retirement years, every dollar counts. So how do you prepare ahead of time if you're one of the one million people to receive these letters — and is there a way to fight the system?  Larry Kotlikoff and Terry Savage join us to discuss their new book “Social Security Horror Stories: Protect Yourself from the System and Avoid Clawbacks.” Listen in to hear what you can do to avoid Social Security clawbacks and the next steps if you receive a letter asking for repayment. Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact advertising@airwavemedia.com if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Social Security retirement benefits are crucial for millions of Americans, but the system and the formula for calculating benefits are complicated. After applying for Social Security payments, some individuals get a clawback letter stating that they owe the government money. On this week's episode of Grow Money Business, Dr. Laurence Kotlikoff returns to the show to discuss his new book ‘Social Security Horror Stories,' which reveals the dark side of social security. Throughout the episode we discuss social security as a whole, the steps you need to take once you receive a clawback letter, and more.  [07.06] Social Security Horror Stories – Laurence starts off the conversation by explaining how he came to write the book ‘Social Security Horror Stories' with Terry Savage. [13.00] Stories – Laurence walks us through some of the horrific stories of people who were victims of social security nightmares. [24.51] Appealing – Grant and Laurence talk about the social security appeal process and what you need to look out for. [36.47] Taking action – Laurence shares his idea on why people are not taking action against the injustice of the Social Security Administration. [48.34] Advice – Grant and Laurence talk about why you should be hesitant take advice from anyone who works in Social Security. [57.08] Writing – Laurence talks about his writing career with Forbes Business magazine. [01.10.53] Personal security account system – Laurence explains how a personal security account system works. [01.21.26] Global market portfolio – Laurence expresses his thoughts on why he thinks the world's financial system is going to yield a good return over a long period.   Resources maximizemysocialsecurity.com/ maxifiplanner.com/ Social Security recipients struggle to pay back agency after unexpected overpayments youtube.com/watch?v=sIYsZw0PtlI   Social Security Horror Stories: Protect Yourself from the System -- and Avoid Clawbacks by Laurence Kotlikoff amazon.com/Social-Security-Horror-Stories-Clawbacks/dp/B0CMN3H4N7   Connect with Laurence Kotlikoff LinkedIn - linkedin.com/in/laurencekotlikoff/ Twitter - twitter.com/Kotlikoff Website - kotlikoff.net/

Social Security is clawing back $21 billion in mistaken overpayments — impacting retirees and the disabled. Terry Savage and Larry Kotlikoff have written a new book —Social Security Horror Stories— revealing the shocking abuse. Last weekend they were featured on CBS - Sixty Minutes speaking with Anderson Cooper about this issue. In this episode, Larry joins Terry, Pam and Richard to take a deeper dive into problem and what you should do to ensure you get what's rightfully yours.

In this episode, The Annuity Man and Larry Kotlikoff discuss:  Your ability to affect your social security Mistakes that people make with social securities Two ways economics deals with uncertainty   Key Takeaways:  You have the ability to make your retirement benefit bigger or smaller by making decisions. Delaying your claim will increase the amount provided by your benefits.  Delaying your claim makes more sense. If you die tomorrow, you won't need any money. The real risk isn't in dying early, it's in living a long time and not having enough to sustain yourself.  A Certainty Equivalent Analysis is a way to deal with economic uncertainty by making very conservative assumptions to adjust for risk. The other way is to go along and adjust in light of what happens.    "The fact of the matter is, if you die tomorrow, you're gonna be in heaven, you're not going to need money, you're not gonna be kicking yourself. The real danger is if you live to 100 and you're starving, eating cat food. " —  Larry Kotlikoff.   Connect with Larry Kotlikoff: Website: https://kotlikoff.net/ | https://maximizemysocialsecurity.com/  Facebook: https://www.facebook.com/laurence.kotlikoff  LinkedIn: https://www.linkedin.com/in/laurencekotlikoff  Twitter: https://twitter.com/kotlikoff?lang=en    Connect with The Annuity Man:  Website: http://theannuityman.com/  Email: Stan@TheAnnuityMan.com  YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g  Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!   

Larry Kotlikoff, Professor of Economics at Boston University and a two-time presidential candidate, turns the world of financial planning and advice upside down in his book, “Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life”. Why he thinks we should marry for money, move back in with our parents, and keep investing through our retirement. Plus, transport stocks and homebuilder stocks are telling two different stories about the economy and the stock market. Which one is right? LINKS FOR SHOW NOTES https://www.investopedia.com/terms/d/dowtheory.asp https://www.investopedia.com/terms/b/bondladdering.asp https://kotlikoff.net/ https://larrykotlikoff.substack.com/ https://www.vandaresearch.com/news/ https://www.atlantafed.org/cqer/research/gdpnow www.cmegroup.com/markets/interest-rates/cme-fedwatch-too

Larry Kotlikoff, Professor of Economics at Boston University and a two-time presidential candidate, turns the world of financial planning and advice upside down in his book, “Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life”. Why he thinks we should marry for money, move back in with our parents, and keep investing through our retirement. Plus, transport stocks and homebuilder stocks are telling two different stories about the economy and the stock market. Which one is right? LINKS FOR SHOW NOTES https://www.investopedia.com/terms/d/dowtheory.asp https://www.investopedia.com/terms/b/bondladdering.asp https://kotlikoff.net/ https://larrykotlikoff.substack.com/ https://www.vandaresearch.com/news/ https://www.atlantafed.org/cqer/research/gdpnow www.cmegroup.com/markets/interest-rates/cme-fedwatch-too

Maxifi is retirement planning software designed by Boston University professor Larry Kotlikoff. I've spent several days trying out the software, and this video is my review of the tool.There are several things I like about the tool. Data entry is easy. It doesn't require input of detailed investments or even a budget. Beyond housing, it asks for no spending details. Instead, it provides you with how much the tool calculates you can spend each year in retirement.Its social security tool is also robust. For example, you can upload your earnings history from SSA, which the tool uses to calculate your best claiming strategy.That said, Maxifi is not a tool I can recommend or plan to use. Its spending calculations do not account for the sequence of returns risk. It uses very conservative default settings, without explaining the consequences of these assumptions. And I found the tool overall not very transparent when it comes to understanding how the calculations were performed or how the various assumptions affect the results.Join the newsletter: https://robberger.com/newsletter/?utm...

Our special guest is Professor Lawrence Kotlikoff, economics professorat Boston University and ranked by The Economist magazine as one ofthe world's 25 most influential economists. Larry is also thepresident of Economic Security Planning, Inc. and the founder ofMaximize My Social Security and MaxiFi.We spoke about different investment strategies, ways for governmentsto grow their GDP in order to fund their unfunded liabilities, someinteresting solutions to the healthcare costs crisis, ways in whichtechnology can create prosperity and a lot more.To learn more about professor Kotlikoff, visit:Kotlikoff.netLarrykotlikoff.substack.comMaximizemysocialsecurity.comMaxifi.comApple Podcast: https://tinyurl.com/36u8fmbrSpotify Podcast: https://tinyurl.com/4zv6syfcHardcorefinanceshow.comFollow us on Twitter@MrEBITDA@ShimonLazarovSupport the show

In today's episode, Shimon discusses the recent Silicon Valley bank debacle, the response from the federal reserve, and what it means for the price of Bitcoin and stocks. Are we about to see a large amount of money printing or will the federal reserve be able to sustain interest rates at high levels?  Our special guest is Professor Lawrence Kotlikoff, economics professor at Boston University and ranked by The Economist magazine as one of the world's 25 most influential economists. Larry is also the president of Economic Security Planning, Inc. and the founder of Maximize My Social Security and MaxiFi.  We spoke about the fiscal gap in the USA, The USA vs China in the 21st century, Social Security, and a lot more. Kotlikoff.netLarrykotlikoff.substack.comMaximizemysocialsecurity.comMaxifi.com Apple Podcast: https://tinyurl.com/36u8fmbr Spotify Podcast: https://tinyurl.com/4zv6syfc Hardcorefinanceshow.com  Follow us on Twitter @MrEBITDA @ShimonLazarovSupport the show

When we look at 2022 in the rearview mirror, many of us will remember it as a year of inflation, volatility, and extreme uncertainty.  So, in the midst of a massive market contraction and financial upheaval, what can you do to ensure you don't run out of money–especially when it comes to your Social Security?  To help me answer that question, I'm thrilled to welcome Professor Larry Kotlikoff back to the podcast. Larry has written over 19 books, and has a passion for helping people make smart, sound financial decisions. With that in mind, we're talking about Social Security tips and strategies that can save you hundreds of thousands of dollars. We dig into how inflation directly affects Social Security benefits, the money-losing mistakes that so many people make as they approach retirement age, and what we should be doing to create a better financial future for our children and our country.  In this podcast interview, you'll learn:  Why most people between the ages of 50 and 62 accidentally leave $182,000–or more–on the table by failing to optimize their Social Security. The importance of planning for worst-case scenarios when it comes to retirement–including living to 100. How to treat (and think about) money in the markets. What makes reverse mortgages and other similar lines of credit so tempting, and so dangerous.  Larry's vision for a more sustainable retirement system.  Interview Resources Laurence Kotlikoff Follow Laurence Kotlikoff on Twitter | LinkedIn | Facebook Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life by Laurence J. Kotlikoff Get What's Yours: The Secrets to Maxing Out Your Social Security (The Get What's Yours Series) by Laurence J. Kotlikoff, Philip Moeller Ask Larry Economics Matters by Laurence Kotlikoff You're Hired by Laurence Kotlikoff MaxiFi

Today's episode focuses on the impact of Joe Biden's student loan forgiveness program on the fiscal trajectory of the U.S.. David shares that Biden's plan has only one stipulation: your annual income must be less than $125,000 as a single person (or $250,000 for a married couple). The program only concerns federal student loans. and you can have up to $20,000 in student loans forgiven if you received a Pell Grant. Otherwise the limit is $10,000.  David questions whether Biden could do what he has planned, something that seems to be suggested by David Walker – former Comptroller General of the Federal Government – as well. David quotes Dr. Larry Kotlikoff who touches upon the fact that up to three million Americans over 60 are still paying off their student loans. For the non-partisan Penn Wharton, President Biden's plan includes three major components. They estimated that the debt cancellation alone will cost up to $519 billion, while the loan forbearance will cost another $16 billion, and the new income-driven repayment IDR program would cost another $70 billion. According to Maya McGinnis, President of the bipartisan Committee for a Responsible Federal Budget, Biden's plan will do nothing to actually make education more affordable – meaning that it will likely drive up tuition costs, all while raising prices on a variety of other goods and services for ordinary Americans. Even the Washington Post concedes that the Biden plan will cause tuition to increase more rapidly, primarily due to its income driven repayment IDR provisions. David illustrates how the approach of Biden's plan will encourage students to take out more debt and colleges to charge more in tuition, and how this will impact you as you're trying to get to the 0% tax bracket. Mentioned in this episode: Will the Inflation Reduction Act Raise Your Taxes? This Could Increase Inflation David's books: Power of Zero, Look Before Your LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube

David shares that he got into the industry during the “calm before the storm.” It was 1997 and, during the State of the Union, President Bill Clinton announced that the national deficit was simply zero. Today, less than 25 years later, the national debt is $30 trillion. By 2010, however, David Walker – former Comptroller General of the Federal Government and a personal hero of David's – appeared on 60 Minutes saying that tax rates would have to double in order to keep the country solvent. 2010 also saw David McKnight starting to go around the country trying to warn and help people, and that's when he developed a presentation, which then turned into his 2014 book The Power of Zero. David explains that there are three basic types of accounts within which you can invest money for retirement and that the first two – the taxable bucket with yearly payments and the one with payments only at the end – are problematic given the rising tax environment.  David's focus over the years has been on teaching people how to reposition their money from taxable and tax-deferred to tax-free so that all heavy lifting will be done by the time tax rates increase. All of the experts David interviewed during his documentary shared the same message: “If we don't change the course as a country, tax rates within the next 10 years will have to increase dramatically”. Some experts even went further than that, claiming that the U.S. will go broke as a country unless tax rates are doubled. David's main goal is “to put 100,000 people on the road to the 0% tax bracket in the next 10 years”. David illustrates the fiscal gap accounting concept and point of view of Boston University's Doctor Larry Kotlikoff, who was featured in the documentary as well. His point of view seems to paint a much more dramatic picture with the national debt standing at $239 trillion. David shares the story of The White Coat Investor, a doctor out of Salt Lake City who believes that David's advice in his book The Power of Zero isn't good advice because “tax-free Roth Conversions are the devil”. Despite this, he eventually came around to David's suggestions. For David, the country is facing a completely politically-neutral issue: the maths problem of the U.S.' fiscal problems. David discusses why everyone should look at LIRPs as a valuable tax-free income stream. Mentioned in this episode: David's books: Power of Zero, Look Before Your LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube

Economists study the way the production and distribution of goods, products, and services affects the free. Conscious and modern economists are now applying this financial analysis to global warming and the effect on climate change. Economist Laurence "Larry" Kotlikoff has written, spoken, and advocated for the climate for most of his career, including in front of U.S. Congress. Ranked as one of the top 25 World's Most Influential Economists by The Economist Magazine, Kotlikoff is well informed and well respected in his field.   Larry has an impressively long list of credentials as heard in his bio. He's written many articles and papers, and has co-authored research papers with other top economists. Topics of these articles, many of which can be found at the National Bureau of Economic Research, include carbon taxing, the Paris Accord, and other climate crisis topics.   In this episode, Larry discusses the generational solution of climate change, carbon taxation, the current War on Ukraine and it's economic impact. Larry suggests with energy prices far higher than we are accustomed to, we are currently experiencing what a price on carbon feels like, without the dividend.   For more from Larry Kotlikoff: Substack - https://larrykotlikoff.substack.com/ Book - Money Magic Upside Investing on Forbes MaxiFi Planner Kotlikoff's Website - Economic Security Planning Inc

“I don't want to pay the taxes on my Roth Conversion” is the single greatest objection David sees every week. David believes that whoever makes that argument is basically saying that they don't want to pre-emptively pay a tax before the IRS absolutely requires it of them and that they think their tax rate down the road will be lower than it is today. He sees the latter point as the greater concern. For David, if you're in the 22% or 24% tax brackets – meaning that your taxable income is between $83,550 and $340,100 – but are pushing the payment of taxes on your Roth Conversion down the road, you're actually missing out on a good deal. Ten years from now, he argues, when the country's tax rates will have risen dramatically, you're going to end up realizing that you missed out on a deal of historic proportions. David sees not being convinced that tax rates in the future are likely going to be higher than they are today and being reluctant to pay the cost of admission to the tax-free bucket as the greatest roadblock in getting you to the 0% tax bracket in retirement. In case you feel as if you're in the situation described above, David suggests educating yourself on what independent, third-party, experts have to say about the future of tax rates – and he recommends reading chapter 1 of his book Power of Zero and watching the documentary The Power of Zero: The Tax Train Is Coming. David shares that, historically, tax rates have been substantially higher than they are today. Marginal tax rates post WWII were 94%, and marginal tax rates in the ‘70s were 70%. The highest marginal rate today is 37%. These rates have nowhere to go but up. All the experts that were interviewed for The Power of Zero documentary said the same thing: if we don't change course immediately, ten years from now tax rates will have to rise dramatically or we'll go broke as a country. Some of them even said that tax rates will have to double or we'll go broke as a nation. David touches upon quotes from a MarketWatch article of his that featured insights from Ray Dalio, Leon Cooperman, Ed Slott, Larry Kotlikoff, and Larry Swedroe regarding the future of tax rates in the next ten years. David brings up a key question you should ask yourself: wouldn't you rather pay taxes today, on your terms, than postpone the payment of those taxes until the IRS forces you to pay them on their terms?     Mentioned in this episode: David McKnight vs Financial Guru (Part 1): powerofzero.com/blog/Power-of-Zero-vs-White-Coat-Investor-David-McKnight-Response David McKnight vs Financial Guru (Part 2): powerofzero.com/blog/the-white-coat-investor-responds-and-i-rebut-his-response David McKnight vs Financial Guru (Part 3): powerofzero.com/blog/power-of-zero-vs-white-coat-investor-final-response The Power of Zero: The Tax Train Is Coming--TheTaxTrain.com MarketWatch Article: marketwatch.com/story/heres-a-way-to-make-your-retirement-savings-last-longer-2020-12-08 POZ episode 181: Should High Income Earners Do Roth Conversions--podcasts.apple.com/us/podcast/should-high-income-earners-do-roth-conversions/id1441026169?i=1000558116209 David's books: Power of Zero, Look Before Your LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube

 In this episode host Josh Nelson talks with Doctor Larry Kotlikoff, professor of economics at Boston University and one of the world's top economists.  They engage in a conversation that's not just about the economy, but it's also about how the state of the economy today will play a big part in how you plan your finances and spending in the coming months and years. Listen to this IMPORTANT talk about the economy, the markets, retirement income, as well as about younger people and how they can take advantage of what's going on right now. Please pass it along to any friends or family that you think that would benefit from it. Also please click subscribe on your favorite podcast service. Thanks so much.Contact Josh Nelsonhttps://www.keystonefinancial.com/podcastOrder your copy of Dr. Larry Kotlikoff's latest book release Money Magic. An Economist's Secrets to More Money, Less Risk, and a Better Life.https://kotlikoff.net/

For David, the problem is that the U.S. has promised its people way more than it can afford to pay. The debt clock says $30 trillion, which is a mind-boggling figure. According to other experts, however, the real number is actually higher than that. It is close to the $125 trillion mark. Citing Dr. Larry Kotlikoff from Boston University, David reveals that, according to a fiscal gap accounting, the projection over the next 75 years isn't $30 trillion, nor $125 trillion… it sees true national debt in the U.S. sitting much closer to $239 trillion. One of the key questions David brings up is: for a retiring generation of Baby Boomers who saved the lion's share of their retirement savings and tax-deferred vehicles like 401ks, what rate are their postponed tax payments going to be taxed at? David shares that, with the exception of a small period in the early ‘90s, taxes haven't been as historically low as they are today in 80 years. He advises to do all the heavy lifting now by preemptively paying taxes on IRAs and 401ks before tax rates go up on January 1st 2026. David talks about the fact that after January 1st 2026, tax rates are going to revert back to what they were in 2017. This means that each day that goes by where we fail to take advantage of historically low tax rates is potentially a year beyond 2026 where we could be forced to pay the highest tax rates we are likely to see in our lifetime. David shares his insights about how retirees and retirees-to-be can transition these assets before January 1st 2026 arrives. David advises those who have too much money in their 401k or IRA to start repositioning that money systematically to the tax free bucket by way of a Roth conversion. The Roth conversion has no income limitation. Social Security, Medicare, Medicaid, is just borrowing money that they don't have. Every year that Congress doesn't fix the problem means new consequences. (aka higher tax rates).     Mentioned in this episode: David's books: Power of Zero, Look Before Your LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube

Think about all of the financial decisions we make about our education, careers, marriages, retirement ages, Social Security, taxes, and investments. They all affect our standard of living —but most of us make these decisions by relying on crude rules of thumb or take questionable advice from friends and family, media gurus, self described experts, and advisers who are frequently little more than self-interested salespeople. There's obviously a problem with what I'm describing, don't you think? That's why I wanted to talk to noted economist and New York Times bestselling author Larry Kotlikoff about his new book, Money Magic, which distills his best personal finance advice to increase your spending power and enhance your standard of living. If you've ever felt like you could be living better or making better financial decisions, I think you'll enjoy this one.As always, we welcome your feedback. Please make sure to subscribe, rate, and review on Apple Podcasts, Spotify, Stitcher, and Google Play - and make sure to follow us on Facebook and LinkedIn!

Drew talks with author and Economics Professor, Larry Kotlikoff about the things people can do to build a sound financial foundation where you can prosper.

Listen now (55 min) | Here at The Glenn Show, I’m taking a little break from politics and culture to talk dollars and cents. My good friend and former Boston University colleague Larry Kotlikoff is here to discuss his new book, Money Magic: An Economist’s Secrets to More Money, Less Risk, and a Better Life This is a public episode. Get access to private episodes at glennloury.substack.com/subscribe

Will inflation be short-lived? And what about rising interest rates? Larry tells us what he thinks!   Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results. See omnystudio.com/listener for privacy information.

In this week's episode, Soledad O'Brien and Jean Chatzky talk to economist and bestselling author Larry Kotlikoff about inflation, when to take social security and when to invest, all of which might surprise you. Then later in the episode, Edelman Financial Engines Planner Brian Leslie talks to Jean and Soledad about homeownership and different approaches to mortgages, how much life insurance you actually need and more. On this episode: Interview with Economist Larry Kotlikoff To buy or not to buy a home ... that is the question Some do's and don'ts on life insurance   Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results.   Neither Financial Engines Advisors, L.L.C. nor any of its advisors sell insurance products. Edelman Financial Engines affiliates may receive insurance related compensation for the referral of insurance opportunities to third parties if individuals elect to purchase insurance through those third parties. You are encouraged to review this information with your insurance agent or broker to determine the best options for your particular circumstances. See omnystudio.com/listener for privacy information.

Retirement planning entails a series of important decisions, including lifestyle decisions with long-lasting consequences. My guest today, economist Larry Kotlikoff, discusses his new book, Money Magic: An Economist's Secrets to More Money,Less Risk, and a Better Life, and how to make smarter lifestyle decisions by understanding the true price tags for each of them. See below for Larry Kotlikoff's full bio and links to learn more. _________________________ Retirement Wisdom is partnering with One Day University to bring you a FREE live-streamed talk with renowned Amherst Professor Catherine Sanderson, on January 18th, at 7 pm ET | 6pm CT | 4 pm PT. Professor Sanderson will present a live-streamed, one-hour version of her most popular course, Positive Psychology: The Science of Happiness, including time for Q&A in real-time. If you can't tune in live, everyone who RSVPs will receive a link to watch the class anytime they want. To RSVP today for this free class, just visit: www.onedayu.com/retirementwisdom __________________________ Bio Laurence J. Kotlikoff is a William Fairfield Warren Professor at Boston University, 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, President of Economic Security Planning, Inc., a company specializing in financial planning software, a Research Associate of the Gaidar Institute, and a Research Fellow of the Goodman Institute.Kotlikoff is also a New York Times Best Selling author. The Economist Magazine ranked Kotlikoff one of the world's 25 most influential economists. His website is 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, Kotlikoff 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's writings and research address personal finance, inequality, taxation, Social Security, climate change, investing, healthcare, deficits, and insurance. Professor Kotlikoff is author or co-author of 20 books, hundreds of professional journal articles, and a multitude of op eds and blogs. His most recent books are Money Magic: An Economist's Secrets to More Money,Less Risk and a Better Life, You're Hired, Get What's Yours – the Revised Secrets to Maxing Out Your Social Security (a NY Times Best Seller co-authored with Philip Moeller and Paul Solman), The Clash of Generations (co-authored with Scott Burns), The Economic Consequences of the Vickers Commission, Jimmy Stewart Is Dead, Spend ‘Til the End, (co-authored with Scott Burns), Generational Policy (MIT Press), The Healthcare Fix, and The Coming Generational Storm (co-authored with Scott Burns). Kotlikoff's columns have appeared in The NY Times, The Wall Street Journal, The Washington Post, The Hill, The Financial Times, The Times of London, Forbes, CBNC, Bloomberg, PBS NewsHour, The Dallas News, Neue Zürcher Zeitung, the Seattle Times, Vox, Fortune, Seeking Alpha, Yahoo.com, VoxEU, Huffington Post, and other leading media. Kotlikoff has served as a consultant to the Federal Reserve, 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,

Larry Kotlikoff describes how his upbringing and family circumstances led to his hard work and his entrepreneurial streak, not only in economic research. but also in promoting wise policies for the United States. Larry explains the logic behind generational accounting and his concerns about the long-term and prodigious debt the government is passing on to future generations. During the interview, Larry mentions the policy solutions he put together in consultation with groups of economists and other experts, including the health care specialist the late Uwe Reinhardt.

My guest today is Laurence Kotlikoff. He is a Professor of Economics at Boston University, Fellow of the American Academy of Arts and Sciences, Fellow of the Econometric Society, Research Associate of the National Bureau of Economic Research, President of Economic Security Planning, Inc., and Director of the Fiscal Analysis Center. He has written 19 books. The topic is his book Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life. In this episode of Trend Following Radio we discuss: Student Loans in the United States Credit Card Debt Standard of Living Divorce Planning Financial Thinking Jump in! --- I'm MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I'm proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show. To start? I'd like to give you a great piece of advice you can use in your life and trading journey… cut your losses! You will find much more about that philosophy here: https://www.trendfollowing.com/trend/ You can watch a free video here: https://www.trendfollowing.com/video/ Can't get enough of this episode? You can choose from my thousand plus episodes here: https://www.trendfollowing.com/podcast My social media platforms: Twitter: @covel Facebook: @trendfollowing LinkedIn: @covel Instagram: @mikecovel Hope you enjoy my never-ending podcast conversation!

Laurence Kotlikoff harnesses the power of economics and advanced computation to deliver a host of spellbinding, but simple money magic tricks that will transform your financial future. Each trick shares a basic ingredient for financial savvy based on economic common sense, not Wall Street snake oil. Money Magic offers a clear path to a richer, happier, and safer financial life. Whether you're making education, career, marriage, lifestyle, housing, investment, retirement, or Social Security decisions, Kotlikoff provides a clear framework for readers of all ages and income levels to learn tricks like: How to choose a career to maximize your lifetime earnings (hint: you may want to consider picking up a plunger instead of a stethoscope). How to buy a superior education on the cheap and graduate debt-free. Why it's smarter to cash out your IRA to pay off your mortgage. Why delaying retirement for two years can reap dividends and how to lower your average lifetime tax bracket. Money Magic's most powerful act is transforming your financial thinking, explaining not just what to do, but why to do it. Get ready to discover the economics approach to financial planning—the fruit of a century's worth of research by thousands of cloistered economic wizards whose now-accessible collective findings turn conventional financial advice on its head. Kotlikoff uses his soft heart, hard nose, dry wit, and flashing wand to cast a powerful spell, leaving you eager to accomplish what you formerly dreaded: financial planning. Bio: Laurence Kotlikoff is a Professor of Economics at Boston University, Fellow of the American Academy of Arts and Sciences, Fellow of the Econometric Society, Research Associate of the National Bureau of Economic Research, President of Economic Security Planning, Inc., and Director of the Fiscal Analysis Center. He has written 19 books. In this episode of Trend Following Radio: Student Loans in the United States Credit Card Debt Standard of Living Divorce Planning Financial Thinking

Few of us have ever experienced anything like the turmoil and upheaval of the last two years. We're all feeling the impacts of longevity, inflation, taxes, and frustrating decisions by our government. This means it's a great time to welcome today's guest back to the podcast. Larry Kotlikoff brings 35 years of experience to our industry and on January 4th, he'll be releasing Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life, where he digs deep into what people do wrong–and how to fix those mistakes for good. In today's episode, Larry shares some of the over 50 shocking money stories that are detailed in his new book, the complexities, and challenges of Social Security, and the tools you can use to stay in the best financial shape possible no matter your situation. In this podcast interview, you'll learn:  Why Larry believes we should time the markets–but for risk, not returns. The issues that Larry sees Social Security–and the steps he'd take to fix it. How people actually get scammed by Social Security, especially widows. The reasons why moving forward with your Roth conversion might be a bad idea if you're taking your Social Security early. Why your financial plan has to allow you to live to 100 regardless of if you make it there or not. Interview Resources Laurence Kotlikoff's Website Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life by Laurence Kotlikoff You're Hired! by Laurence Kotlikoff Get What's Yours by Laurence Kotlikoff MaxiFi Planner A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing by Burton Malkiel Podcast Page:

As a financial advisor, David came up with the concept of the three buckets and a quick five-minute presentation to convey the idea to clients. This developed into an hour-long presentation which eventually became the seed of the Power of Zero book. It took David just three days to write the book because the core of the material was already in place. He just had to commit to putting it onto the page. The book was republished in 2018 with new content by Penguin Random House. David is currently writing a fictional story centered around a financial theme that has a lot of real-world applications right now. The plot basically revolves around the very real threat of Modern Monetary Theory. Modern Monetary Theory is the idea that the government isn't constrained by the same restrictions as the average American family and can essentially print as much money as they want without repercussions. All of the economists that David has interviewed for his podcast essentially agree on the fact that implementing MMT would lead to hyperinflation. However, this doesn't stop MMT proponents from espousing the theory though. If you start accumulating debt in the belief that it won't affect anything, reality will prove you wrong. The cost of servicing the level of debt the US government currently has is taking up a large portion of the federal budget. By 2040, it would consume the entirety of the federal budget if interest rates simply went back to where they were at in 2003. David believes the moment of reckoning for the US is going to be 2030. Brian Beaulieu has predicted the major economic trends with 90% accuracy over the past 40 years, and he believes that 2030 will be a confluence of events that will result in a global depression. As rough as the dollar is, it's still one of the most stable currencies in the world. It's relatively unlikely to be usurped. The real issue is that Social Security and Medicaid are tied to inflation, so if we print more money, the cost of the programs also rises and you will never really get ahead. The US is facing down a fiscal gap of $239 trillion just to be able to deliver on the promises already made. The Biden tax legislation has pros and cons for many Americans, but the bottom line is that he's not addressing the underlying problem. It doesn't arrest the slide into fiscal solvency. Politicians are generally reluctant to push anything through right before midterms. If the legislation doesn't get passed before the end of the year, it may never happen. If David were the president of the United States, he would take a page out of Larry Kotlikoff and basically guarantee that Biden wouldn't be elected for a second term. The big focus would be to reform the social programs that are driving the debt, in particular MediCare. Without this kind of action, the national debt will grow by definition. Maya MacGuineas did a study to find what the government would have to do to simply prevent the debt from growing by $1 trillion per year, and she found that they would have to tax every dollar earned above $50,000 at a rate of 40%. There is no way around the math. If we are going to fix this problem, no amount of taxing the rich or everyday Americans will do it. We have to fundamentally reform Social Security, MediCare, and Medicaid to get our country back on track. On Jan 1, 2026 tax rates are going to revert to what they were prior to the tax cuts. If you want to do Roth conversions, now is the time. You have five years to take advantage of the current historically low tax rates.  Every year that goes by that you fail to take advantage of those tax rates, it increases the likelihood that you will rise into a tax bracket that gives you heartburn. When it comes to Roth conversions, time is your friend and when time is short they become less appealing. When doing a Roth conversion, you have to be convinced that the tax rate you will pay today will be lower than what you would be forced to pay somewhere down the road. If tax rates are even 1% higher, then it's probably the right move.

Listen now (59 min) | In this week’s TGS, my old friend Larry Kotlikoff, an economist at Boston University, is back to talk about some of our most pressing economic concerns. Chief among them is the inflation rate, which has hit a 30-year high. By some accounts, inflation is now threatening to do major, possibly longterm damage to the US economy. But are things as bad as they seem? Larry will take us through his analysis and talk about some other looming economic troubles. If you want to understand how these things work, Larry is your guy. This is a public episode. Get access to private episodes at glennloury.substack.com/subscribe

Dr. Larry Kotlikoff is the foremost expert in the world on fiscal gap accounting and has done a great job transforming how we should be thinking about a nation's debt. Dr. Kotlikoff recently stated during an interview that most retirement planning is wrong.  According to Dr. Kotlikoff, the basic problem with financial planning is that the goal of our life is not to accumulate wealth so that people can charge us fees on our assets. It's about having the best lifestyle we can, given our resources, so we don't end up on the street if the market crashes or we live to be 100 years old. You don't necessarily need to pay someone to manage your assets, but it can be worthwhile to have someone help you stick to your objectives. Most people without a financial advisor participate in emotionally driven investing, which is why the average investor's returns suffer. Saving for retirement is a requirement in consumption smoothing, but there is an optimal amount to save. Once you know what you have, you know what you can spend. Part of the job of a good financial planner is helping you reverse engineer what you need to create the lifestyle you want in retirement. This is where the Power of Zero paradigm deviates from mainstream financial planning. You have to get the tax part of the equation right. It's not enough to know what you should be saving, because if you execute that plan in your tax-deferred bucket and watch as tax rates rise over time, you'll find that your financial plan only delivers about half what your lifestyle needs. You need to contribute the right amount of money into the right kinds of accounts. Dr. Kotlikoff feels the stock market is overvalued and dependent on the Federal Reserve's support to maintain its levels. Market timing is tricky at the best of times. Statistically, it's nearly impossible to do. Over the course of a given year, that 80% of the rise in the market occurred on 6-8 days and you have to predict exactly which days those are going to be.  If you can guarantee your lifestyle expenses with your Social Security, pension, and/or a guaranteed lifetime income annuity, you can take much more risk in the market.  A good rule of thumb if you need to dip into your assets during a down year is to take money out of your LIRP instead of your stock market portfolio. Dr. Kotlikoff recommends that you push off taking Social Security for as long as you can to mitigate longevity risk. The key here is predicting how long you are going to live. The worst thing that can happen to you is push it off until age 70, and then die at age 71. The best way to predict how long you are going to live is to go through the LIRP underwriting process. When an underwriter accepts you, they are basically betting that you are going to live a long, healthy life, and you can use that to push Social Security off as long as possible. Is paying off your mortgage early smart? The question we should be asking is whether we “should take money that could be invested in the stock market or pay off a mortgage early?” When you look at the arbitrage between the market and your mortgage, the math doesn't add up. Converting money to an IRA has to be done over a period of time to avoid paying more taxes than necessary. We are in a rising tax rate environment, so it makes sense to take advantage of today's historically low tax rates, but it has to be done systematically. You shouldn't be drawing Social Security during your conversion period because it will cause Social Security taxation and lock you into a lower amount. There are secrets to all stages of the life cycle. When you're young, stay home to save on housing costs and don't borrow for college if there is a reasonable likelihood you might drop out. Invest more in stocks as you age in retirement, especially if you have your lifestyle needs guaranteed already. Mentioned in this Episode: Medicine's Golden Age Is Dawning. 10 Stocks to Play the Latest Innovations. - barrons.com/articles/medicine-healthcare-stocks-roundtable-51632527474

Today I'm speaking to Laurence (Larry) Kotlikoff. Larry is a professor of economics at Boston University, a New York Times best-selling author, and the president of Economic Security Planning, where he works to produce powerful personal financial planning tools.  For much of his career, including two Presidential runs in 2012 and 2016, he's been uniquely focused on personal finance and economic reform. He believes that we have the power to improve our individual economic futures, as well as our nation and our planet's–but that there are real challenges along the way. In today's conversation, Larry and I dig into the major problems facing the American economy in 2021, why higher taxes are all but inevitable (and why our government fails to tax so many people correctly), and how to evaluate Social Security to make the most of your potential benefits.  One more thing before we get started. We've got a bunch of copies of Larry's book,  Get What's Yours: The Secrets to Maxing Out Your Social Security, and we're going to send them out until they're all gone! Here's all you have to do... Step 1.) Subscribe to the podcast and leave an honest rating & review over on iTunes. Step 2.) Send an email to info@howardbailey.com with your iTunes username and mailing address, and we will ship you the book for free. It's that simple! Show Notes: RetireWithPurpose.com/240 Rate & Review the Podcast: RetireWithPurpose.com/review Weekly Retirement Newsletter: RetireWithPurpose.com/weekend-reading

If Joe Biden can't get his tax legislation through before midterm elections, it's unlikely he will be able to pass it at all. The situation in Afghanistan has lost Biden approval points in polls across the nation and since the midterm elections usually involve the sitting administration losing either the Senate, the House, or both, there may be no opportunity for him to push it through later. The Senate, which is currently controlled by the Democrats, has proposed a $1 trillion infrastructure, which has bi-partisan support, and a $3.5 trillion human infrastructure bill, which has been opposed completely by the Republicans and doesn't have universal support from the Democrats. The Democrats have imposed a September 30 deadline to vote on both bills at the same time. Joe Manchin wrote an op-ed for The Wall Street Journal showing substantial misgivings for the human infrastructure bill. This gambit of Joe Manchin not only threatens the human infrastructure bill, but also Joe Biden's presidency. Joe hints at the implications of both borrowing more money and printing more money in the article. Joe Manchin has been echoing many of the sentiments from David Walker, Larry Kotlikoff, and Maia McGuinness. Joe Manchin warns about spending too much money when things are going well and what happens then when we have a real crisis on our hands and the coffers are empty. Manchin recommends that Congress should pause on the budget reconciliation legislation to give everyone more clarity on the situation with the pandemic and inflation. You should not push through legislation unless you have a full understanding of the implications of that legislation. If you can't get your constituency to agree to raising the taxes needed, you shouldn't be layering on additional unprecedented debt. According to David Walker, the death of Social Security and Medicare accelerated by three years due to the impact of COVID-19 spending. Joe Manchin has a pattern of putting up a lot of fight during the legislative process, but then almost always falls into line when it's time to vote. Given how well the economy is humming along, there is no clear and present danger to the country and this spending bill sets a very bad precedent. The biggest issue our country is facing is our own fiscal irresponsibility. The decision to vote for the two bills in tandem means that if there is any pause, then that is going to contribute to the perception of dysfunction and chaos, which is something voters do not like to see. The danger of the pause is it could set off a cycle of failure. Delay creates the impression of chaos, making Biden and Congress less popular, in turn reducing the popularity of any bills they pass, and making Congress less likely to support them. Joe Biden's tax proposal is part and parcel of the $3.5 trillion human infrastructure bill. If he can't pass the bill, he doesn't get the tax increases needed to pay for it. The next two weeks will be instrumental in determining what happens to tax law in America over the next eight years.   Mentioned in this Episode: Why I Won't Support Spending Another $3.5 Trillion - wsj.com/articles/manchin-pelosi-biden-3-5-trillion-reconciliation-government-spending-debt-deficit-inflation-11630605657 Joe Manchin Has Put Biden's Presidency in Mortal Danger - nymag.com/intelligencer/amp/2021/09/joe-manchin-pause-biden-presidency-failed-danger-congress-democrats.html

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...

Larry Kotlikoff was made famous a few years back with his purple plan. This was a bi-partisan effort to solve some of our nations fiscal problems. We discuss some of these problems ( social security, taxes, carbon taxes, deficits, and more). Now Larry is taking on a much bigger problem... the biggest problems in personal finance today. Don't miss this episode. For more information, visit the show notes at https://moneytreepodcast.com/larry-kotlikoff-us-economic-policy

Have you ever thought about how an economist views financial planning? Would you guess that it's vastly different from how some financial planners approach this work? Today's guest, Laurence Kotlikoff, is a Professor of Economics at Boston University. The Economist named him one of the world's 25 most influential economists in 2014. Professor Kotlikoff has written 19 books, and hundreds of professional articles and Op-Eds. He's here to explain why economists take a different view than financial planners on investing, retirement planning, and risk mitigation. For more information, visit the show notes at https://affordanything.com/episode329

Many people have burning questions about Social Security but don’t know where to go to find the answers.  In this episode, Stephen Stricklin is joined by Larry Kotlikoff, professor of economics at Boston University, and expert on all things Social Security, as they dive into some common questions around Social Security benefits to help you … Continue reading S2: Episode 3 – The Ins and Outs of Social Security – with Guest Larry Kotlikoff →

Beating the New IRA Tax Death Jim Lange, Lange Financial Group – The Sharkpreneur podcast with Seth Greene Episode 456 Jim Lange Jim Lange is a CPA, Attorney and Financial Advisor. His estate and tax planning strategies have been endorsed by TheWall Street Journal (36 times), Newsweek, Money Magazine, Smart Money, Reader’s Digest, Bottom Line, Kiplinger’s, and most recently, Forbes Magazine. Jim has authored five peer-reviewed articles in Trusts & Estates. He is a regular columnist for Forbes.com, and his expertise on Roth IRA conversions was solicited for an article in the February 2019 issue of Forbes magazine. With 35 years of retirement and estate planning experience, Jim and his team have drafted 2,680 wills and trusts, as well as sophisticated beneficiary designations for IRAs and other retirement plans using Lange’s Cascading Beneficiary Plan. They have also administered hundreds of estates whose families have benefitted from these plans. Jim is the author of eight best-selling books, including three editions of Retire Secure!, endorsed by Charles Schwab, Larry King, Ed Slott, Jane Bryant Quinn, Roger Ibbotson, and 50 other experts; The Roth Revolution, endorsed by Ed Slott, Natalie Choate, and Bob Keebler; The $214,000 Mistake, How to Double Your Social Security and Maximize Your IRAs endorsed by Larry Kotlikoff, Jonathan Clements, Paul Merriman, and Elaine Floyd; and The IRA and Retirement Owner’s Guide to Beating the New Death Tax endorsed by Burton Malkiel, Jack Tatar, Bill Losey, and Stephan Leimberg. Jim created The Roth IRA Institute—offering professionals in the industry advice and recommendations. His proof of the tax and estate planning advantages of Roth IRA conversions has been peer-reviewed by the top tax journal of the American Institute of . Further, all 15 IRA experts interviewed on his radio show have indicated that most taxpayers, at some point, will benefit from a Roth IRA conversion—and that was before today’s favorable new tax brackets made Roth IRAs even more advantageous. Listen to this informative Sharkpreneur episode with Jim Lange about beating the new death tax. Here are some of the beneficial topics covered on this week’s show: ●    How providing relevant content and pursuing the press helps gain endorsements. ●    Why helping people and the satisfaction of doing a good job feels the best. ●    How your should be so good that you can outspend your competitors. ●    Why you need to stay in front of your clients and keep in touch to serve them. ●    How the best way to obtain new clients is through in-person workshops. Connect with Jim: Guest Contact Info Twitter @rothguy Facebook facebook.com/RothRevolution LinkedIn linkedin.com/in/jameslangecpa YouTube youtube.com/user/retiresecure Links Mentioned: paytaxeslater.com Learn more about your ad choices. Visit megaphone.fm/adchoices

David Walker has been saying that tax rates are going to have to double since 2008. We didn’t do that. So that means the national debt will continue to accumulate until we reach $53 trillion, at which all the money flowing into the Treasury will only be enough to pay the interest on the debt. Many people other than David Walker are starting to speak about the future of tax rates as the national debt continues to skyrocket. Ray Dalio has said that the US will have little choice but to raise taxes in the coming years to offset its mounting liabilities and debt. In many ways we are looking at a currency problem, not just a debt problem. Leon Cooperman believes that no matter who wins in the coming November election, taxes are on the way up, and the coming tax revamp is going to change capitalism forever. The only variable is how high and how fast tax rates will go up. Leon spoke favourably in the past about the tax cuts implemented by President Trump and why the wealth tax proposed by Nancy Pelosi is pretty much impossible to implement, let alone being unconstitutional. Ed Slott believes that there is a good chance that tax rates will go up before 2026. Should Joe Biden get elected, the tax sale may very well come to an end earlier than expected. Larry Kotlikoff, one of the most famous accountants in the world, is recommending that people implement the Power of Zero principles for their clients. The cost of converting a portion of your stock market portfolio will be lower today than at any other point in your lifetime. There are a few good reasons not to buy municipal bonds in general, but Larry offers another reason. Larry Swedroe echoes much of what Larry Kotlikoff has said. Whatever party is in power, we are likely to see a significant increase in taxes before 2026. More and more experts are seeing the writing on the wall and saying that we will have to endure higher taxes in the near future. Even the most skeptical of experts are coming around and are realizing what’s happening. You must take on a sense of urgency when it comes to your taxable buckets. If you still have money above and beyond the optimal amount in your taxable bucket, you are exposing yourself to some serious risks. You’re much better off paying taxes now than later.

Social Security is a massively important asset to build a comfortable retirement. You don’t want to outlive your money or your lifestyle, and it’s very possible to do both. The Social Security code is even longer than the tax code, there’s so much misinformation out there, and there are countless tricky situations you can end up in if you don’t position yourself correctly. This is why I’m thrilled to be speaking to Larry Kotlikoff. He’s the one person I look to on a daily basis when it comes to Social Security. He’s the author of Get What’s Yours: The Secrets to Maxing our your Social Security, a professor at Boston University, and the founder and president of Maximize My Social Security, a software tool you can use to find the best strategy to increase your benefits. Today, Larry joins the podcast to discuss the importance of patience when it comes to Social Security, how to time your benefits to get the most out of them, and the nuances and details of the program that so many people have questions about. In this podcast interview, you’ll learn: Why the typical retiree can’t easily make sense of their Social Security benefits. Possible gains you may see by claiming benefits later in life. Reasons cashing out your Social Security to invest in the stock market is like gambling. Why the Social Security Administration frequently shares misinformation and encourages people to take benefits at the wrong ages. How our unsustainable fiscal system has created massive unfunded liability in Social Security - and what may happen to cover this gap in the future. Interview Resources Maximize My Social Security Get What's Yours: The Secrets to Maxing Out Your Social Security (The Get What's Yours Series)  

David has been in the industry since 1997, serving people and trying to insulate them from the coming tax storm. David’s wife and seven kids live with him in Puerto Rico, and he’s written several books to get the word out to the American people. David Walker was the former Comptroller General of the federal government, and in 2010 he created a movie called I.O.U.S.A. In that movie, he talked about how we are marching into a future where we are likely to go bankrupt as a country. David Walker is one of the key people that has inspired David to talk about these issues, along with Larry Kotlikoff. 10 years later, it seems like no one is talking about the issues anymore. Not a lot of people are aware that tax rates will be higher in the future than they are today. Even with the people that do believe the message, they haven’t done much about it. David does about 70 or 80 presentations a year, and the people he talks to seem to recognize that we are in tough fiscal straights. Once they get educated, people recognize that math doesn’t lie, and if they want to be prepared for retirement they have to dramatically change the way they do things. Politicians are very reluctant to control spending, because their number one job is to get elected. The biggest voting block in the US is the Baby Boomers, and the easiest way to not get elected is to talk about cutting Medicare, Medicaid, and Social Security. In the Power of Zero movie, Tom McClintock talks about the concept of a sovereign debt crisis. That’s where other nations will no longer loan you money, and since Medicare and Medicaid is pegged to inflation, that scenario basically leaves us with dramatic and draconian increases in tax rates as the only viable option. The states are not immune to unfunded liabilities. 75 million Baby Boomers are making a bet, whether they know it or not, that tax rates will be lower in the future than they are today by leaving their money in 401(k)’s and IRA’s. David Walker famously talked about why tax rates will basically have to double in the next ten years because we can’t grow our way out of the problem, or print our way out, and people will not lend us the money. Tax rates will have to double in the next ten years if we don’t start cutting these programs in a dramatic way. For every year we don’t cut Social Security by a third, the harder the fix becomes on the back end. There are millions of different types of investments, but they all fit into one of three types of buckets. The taxable bucket typically contains things like money markets, CD’s, and brokerage accounts. The taxable bucket is the least efficient way to save your money. Every dollar you give to the IRS is a dollar that you don’t get to invest and grow for your future, which is why David recommends that you only keep your emergency funds in the first bucket. The majority of the Baby Boomer’s savings are in the tax deferred bucket. David likes to describe this bucket as going into a business partnership with the IRS, where they get to vote on what percentage of your profits they get to keep. This can make planning for retirement really difficult because you can’t really know how much money you actually own. The last bucket is the tax free bucket. If you believe that taxes will be higher in the future than they are today, it makes sense to pay the tax today and then take it out tax free later on. At that point, you have divorced yourself from the IRS and own that money. If you’re in the zero percent tax bracket, it insulates you from higher taxes. Even if tax rates double, two times zero is still zero. The taxable bucket can be very useful since it’s very liquid and easily accessed. The optimal amount to hold in your taxable bucket is around 6 months of basic living expenses. Any investments in this bucket should be low risk and non-volatile. Living a richer life by design means being more intentional and proactive when it comes to retirement planning. We have been lulled into the traditional paradigms, and people have to remember that the purpose of your retirement account isn’t about getting a tax deduction. It’s about maximizing your cash flow during a period of your life when you can least afford taxes. The Power of Zero worldview really embodies the by design perspective.

In 2009, senior officials at the Social Security Administration were made aware of grossly underpaying widows who were entitled to much larger benefits. They did nothing. So, the "whistleblower", for lack of a better term, contacted the one person with a large enough megaphone and deep understanding of Social Security to tell him about this absolute disgrace, Larry Kotlikoff. In 2015, Larry wrote a scorching article for PBS about this issue. The Social Security Administration did nothing. --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

In 2009, senior officials at the Social Security Administration were made aware of grossly underpaying widows who were entitled to much larger benefits. They did nothing. So, the "whistleblower", for lack of a better term, contacted the one person with a large enough megaphone and deep understanding of Social Security to tell him about this absolute disgrace, Larry Kotlikoff. In 2015, Larry wrote a scorching article for PBS about this issue. The Social Security Administration did nothing. In February 2018, the report was released. And this is what they concluded: "...we estimate SSA underpaid about $131.8 million to 9,224 beneficiaries who were age 70 and older. In addition, we estimate SSA will underpay an additional 1,899 beneficiaries who were under age 70 about $9.8 million, annually, beginning in the year they attain age 70." What will the SSA do now??? Who knows but this means you need to understand your OWN Social Security benefit. --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

Helen Davis Chaitman is a nationally recognized litigator with a diverse trial practice in the areas of lender liability, bankruptcy, bank fraud, RICO, professional malpractice, and trusts and estates. Among Ms. Chaitman's achievements are the following: • In 1995, Ms. Chaitman was named one of the nation's top ten litigators by the National Law Journal for a jury verdict she obtained in an accountants' malpractice case. • Ms. Chaitman is the author of The Law of Lender Liability (Warren, Gorham & Lamont 1990) which has been updated annually since 1990. • Since 1987, Ms. Chaitman has authored the monthly newsletter, The Lender Liability Law Report, which is subscribed to by law firms and financial institutions through the United States. • In 2014, Ms. Chaitman and Mr. Gotthoffer began publishing their book “JPMadoff: The Unholy Alliance Between America's Biggest Bank and America's Biggest Crook” on their website jpmadoff.com • On November 19, 2014, Pam Martens of Wall Street on Parade wrote about the book: “what attorneys Chaitman and Gotthoffer are doing is extraordinary and unprecedented.” • On February 5, 2015, Larry Kotlikoff reviewed Chapter 7 of the book and wrote: “This is a chapter–and a book–that should be read by every American who has a bank account or uses a credit card.” • Since early 2009, Ms. Chaitman has been an outspoken advocate for investors in Bernard L. Madoff Investment Securities LLC. She has lobbied in Congress, on a pro bono basis, for statutory changes to assure Madoff customers of the protections of the Securities Investor Protection Act. And she has testified twice before Congressional committees on issues affecting securities investors. See Ms. Chaitman's testimony here. Ms. Chaitman practices regularly in New York and New Jersey and has been admitted to practice pro haec vice in numerous jurisdictions throughout the United States. For more information please visit www.chaitmanllp.com or www.jpmadoff.com

I can not even begin to tell you how excited I was to conduct this interview with Larry Kotlikoff, economics expert extraordinaire. Larry is an economics professor at Boston University and is probably most famous for warning anyone who will listen that Social Security, Medicare and Medicaid are doomed in their current state. We can only continue to rob from the future to pay for today for so long. At some point, there will be a reckoning and when that happens, what then? Larry's work has been an integral part of my life, both as a consumer AND as a professional financial planner. Whenever I am asked "What's a good book to read on financial planning", my recommendation is Larry's book with Scott Burns', "Spend Till The End", bar none. Here are some of the links we discussed: www.theinformact.com www.modernwhig.org/ joinsam.org/ economicsecurityplanning.com/ kotlikoff.net/ seekingalpha.com/article/4162603-money-magic-finding-alpha-sidewalk --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

Larry Kotlikoff gives tips on how to maximize your retirement savings, with some help from computers

TOPICS COVERED: Guest Introduction: Dr. Larry Kotlikoff, Reasons to Hire an Advisor, Holding off on Collecting Social Security, Spending More Money, Not Less with Apply and Suspend, Roth IRA Conversions at the Lowest Tax Bracket

Podcast 261: Jimmy Stewart Is Dead: Ending the World's Ongoing Financial Plague with Larry Kotlikoff by Greg Voisen

TOPICS COVERED: Introduction of Guest – Larry Kotlikoff; Case #1: Single 60 Year Old Woman With Long Life Expectancy; Utilize Useful Resources for Retirement Planning; Case #2: Married Couple With Only One Strong Earning Record; Larry Kotlikoff Running for President

Introduction to Dr. Larry Kotlikoff When To Take Social Security When You Should Take Your Social Security Early When You Should Give Back Your Social Security When Should Your Spouse Take Social Security When You Should Apply for Medicare The Benefits of Immediate Annuities