Podcast appearances and mentions of nancy altman

Jim discusses the shaky state of the economy and markets with Chris Farrell, senior economics contributor for Marketplace and Ross Levin of Accredited Investors Wealth Management (2:00). Gayle explores the safety net's future with Nancy Altman, Founder and President of Social Security Works (28:00). Plus an update of local news (48:00). Matt Quast is Technical Director. This Week's GuestsChris Farrell, Marketplace and MPR Ross Levin, Accredited Investors Wealth Management  Nancy Altman, Social Security Works Email us:riverradio@marinecommunitylibrary.orgGovernment Links:City of Marine on St. CroixCity of ScandiaMay TownshipWashington CountyArticle/Information LinksRoss Levin articles for StarTribuneRiver Radio Previous ShowsMarch 29 River Radio with Grant GrissomEvent LinksArrow Broken Collective Poetry Events (or email arrowbrokenpoets@gmail.com)Business/Organization Links:Marine Community LibraryMaklin Bike Shop

Trump Appoints Another Unqualified Hack as the Deliberate Destruction of the IRS Continues | The Deliberate Destruction of Social Security With Biden the Wrong Person to Lead the Effort to Save it | An Assessment of Rumors about Witkoff's Ties To Russian Money-launderers backgroundbriefing.org/donate twitter.com/ianmastersmedia bsky.app/profile/ianmastersmedia.bsky.social facebook.com/ianmastersmedia

Nancy Altman, President of the political advocacy group, Social Security Works, joined the America's Work Force Union Podcast to discuss the Social Security Administration data breach, the potential appointment of a new Social Security commissioner and the need for public engagement.  Greg LeRoy, Executive Director of Good Jobs First, joined the America's Work Force Union Podcast to discuss the impact of corporate subsidies, the financial burden of data centers and the role its Violation Tracker can play in holding companies accountable.

This week on CounterSpin: News site Popular Information alerted us to new Social Security Administration policy effectively requiring tens of thousands of recipients, by the agency's own estimation, to travel to a field office to verify their ID. An internal memo predicts the shift will create “service disruption,” “operational strain,” and “budget shortfalls” — unsurprising, given concurrent staffing cuts and field office closures. The inevitable harms will no doubt be declared part of a necessary attempt to purge “fraud” from the system that has disbursed earned benefits to elderly and disabled people for generations. Journalists have choices. They can, as did the Record-Journal of Meriden, Connecticut, report that the cuts derive from repeated claims of fraud from Elon Musk that are “without evidence,” that Trump echoes Musk's “unfounded statements,” and then quote a retiree advocate noting that accusations of loads of dead folks collecting benefits are “baseless,” and put the words “fact sheet” in appropriate irony quotes when describing a missive from the White House. Or you can go the route of the Arizona Republic, and lead with the notion that the interference in Social Security is most importantly part of Musk's “implementing … measures to trim costs throughout the government.” Mention that the actions have “stirred a range of emotions, from cautious hope that the federal government might finally bring its deficit spending under control, to frantic fears that benefit cuts could undermine the financial or health security of millions of Americans” go on to ask, earnestly, “Where does Trump stand on Social Security and other benefits?” and begin with a White House statement “reiterating that the president supports these programs.” In paragraph 19, you might throw in that public polling shows that “most Americans would favor revenue increases rather than benefit cuts to Social Security,” which would include “requiring high-income individuals to pay taxes on more of their earnings.” In short, easily verified facts, along with “most Americans,” can be centered or tangential in your reporting on the drastic, opaque changes aimed at the program that keeps the wolf from the door for millions of people but for Musk/Trump represents yet another pile of money they feel belongs to them and theirs. All that's in the balance are human lives and health, and the ability of working people to plan for our futures. We'll talk about the new, yet also old, attacks on Social Security with Nancy Altman, president of Social Security Works. Plus Janine Jackson takes a quick look at recent media coverage of Mahmoud Khalil, deportations and the FTC.   The post Nancy Altman on Social Security Attacks appeared first on KPFA.

All that's in the balance are human lives and health, and the ability of working people to plan for our futures.

“Aging population to hit U.S. economy like a 'ton of bricks',” Reuters reported in 2021. “Aging Is The Real Population Bomb,” the International Monetary Fund cautioned earlier this year. “How an aging population poses challenges for U.S. economy, workforce and social programs,” PBS declared in June. “Why we're borrowing to fund the elderly while neglecting everyone else,” The Washington Post's Catherine Rampell wrote just this past November. Year after year, it seems, American media issues the same warning: The population of the US, due to - among other factors - rising life expectancy and falling birthrates, is getting older, which spells doom for our economy. A graying public, we're told, will inevitably upend the labor force, destroy productivity, bleed programs like Medicare and Social Security dry, and thus place an undue burden on the younger population. But the premises for this panic are based on misleading stats, goofy non-sequiturs, and misdirected faux class warfare. So, why do media keep insisting the olds are out for your hard-earned money? Who gets to shape our understanding of what an aging population actually means economically or socially? How does this narrative shift the burden from the state to the individual in terms of managing retirement benefits and systems of care? And what are the real harms of treating people over the age of 65 like they're a cancer on society? On this episode, we examine the narrative that an aging population is necessarily dire, looking at how it's instrumentalized to gut public benefits for seniors and thus for everyone, advance the financialization of retirement, and reframe the conflict between rich and poor as one between young and old. Our guest is social security expert Nancy Altman.

I'm still getting adjusted to living in Arizona... the biggest hurdle that I've yet to overcome is that, although the show still runs at the same time --5ET/2PT, I'm not in the ET zone any longer! Where I am, the show starts at 2pm. That means I lose three hours of prep time. I know I need to start earlier... but the brain hasn't gotten the message yet. So, today was a no makeup day. Time just ran out. And Halloween is right around the corner.Anyway, the House Republicans finally got their act together and voted in a new Speaker of the House, changing the old slogan to "If at first you don't succeed, try, try, try and try again" or something like that. So the fourth time was a charm, or was that a curse? I'm not so sure...One thing that the new Speaker Mike Johnson said was that he's going to establish "debt panels" which would serve one purpose: to kill Social Security. In response, I was thrilled to welcome Nancy Altman back to the show. She's president of Social Security Works, and it does...

When Daniel Ellsberg died, media burnished their own reputation as truth-tellers while somehow dishonoring the practice of truth-telling. The post Nancy Altman on GOP Social Security Attack, Daniel Ellsberg Revisited appeared first on FAIR.

Hosts Gayle Knutson and Jim Maher speak to Craig Hansen, National Park Service Superintendent of the St. Croix National Scenic Riverway about the latest on the river as spring approaches (4:30); and Nancy Altman, Co-Founder and President of Social Security Works, about how to save and improve the Social Security system (25:00). Plus,  an update of local news (49:00). Matt Quast is Technical Director.This Week's GuestsCraig Hansen, St. Croix National Scenic RiverwayReport activity to 1-800-PARK-TIPNancy Altman, Social Security WorksGovernment Links:City of Marine on St. CroixCity of ScandiaMay TownshipWashington County EventsBreakfast with the Easter Bunny in ScandiaArt Reach St. Croix Roz Chast Opening NightBusiness/Organization Links:Marine Community Library Marine Village SchoolMarineZine submissionsmmsuggins@gmail.com

Saying how hard you want to be on "dealers" is really an admission of a failure to address a public health issue as a public health issue. The post Maritza Perez Medina on Fentanyl, Nancy Altman on Social Security appeared first on FAIR.

This week, the newsletter features the last episode of the Retirement Rebootcast - the special podcast series on my new book - Retirement Reboot: Commonsense Financial Strategies for Getting Back on Track. Retirement Reboot is chock full of practical strategies for your retirement plan. But in the last chapter of the book, I argue that we also must pay attention to public policy on our key social insurance programs. And, I lay out my vision for expanding Social Security and pushing back against the growing privatization of Medicare - something I regard as antithetical to the very concept of social insurance.My guests for this episode are two top experts on Social Security and Medicare who have a terrific sense of the historical trajectory of both programs. Judith Stein is the executive director and founder of the Center for Medicare Advocacy, one of the nation's most important consumer protection and policy organizations working on Medicare. Nancy Altman is president of Social Security Works, which advocates for protection and expansion of Social Security. Nancy is one of the most knowledgeable people in the United States on Social Security. She is the author of several authoritative books on Social Security, and she serves on the Social Security Advisory Board, a nonpartisan federal agency that advises the President, Congress, and the Commissioner of Social Security.I invited Judy and Nancy to join me for a discussion of social insurance - past, present and future. Click the player icon at the top of the newsletter to listen to the episode. You also can find the RetirementRevised.com podcast on Apple Podcasts or Spotify.The entire six-part podcast series is now online. I hope you've enjoyed all of these conversations with experts on key retirement topics, but in case you missed any of them, here are links to earlier episodes.* Introduction: An overview of the book featuring a conversation with Chris Farrell, senior economics contributor for Marketplace, the public radio program. Chris wrote the foreward to Retirement Reboot.* Let's Make a Plan. Far too many people don't take the time to make an actual financial plan for retirement – and that's a real misstep. * Optimizing Social Security. For most of us, Social Security will be the most important retirement benefit – full stop. Decisions about when to claim can make a big difference in your lifetime income.  * Navigating Medicare. Along with Social Security, there's nothing that will have a more important impact on your retirement security than making smart choices about navigating Medicare. The centrist thinking on social insurance reform that really isn't* Building Savings. Starting as early as possible is the name of the game when it comes to saving for retirement. But if you're getting close to retirement and haven't been able to save much, don't despair: it is still possible to build significant savings late in the game.* Toward a New Social Insurance Era. The argument for expanding Social Security, and for pushing back against the growing privatization of Medicare (today's episode).Beware the centrist arguments on Social Security reformThe Washington Post published an editorial this week laying out an approach to reforming Social Security and Medicare that typifies what passes for “centrist” thinking about these programs in Washington these days. It's wrong in so many ways, but here are the most egregious elements that caught my eye:* The Post seems to favor a behind-closed-doors "super-committee" tasked with proposing solutions for up or down vote. That's just a way for lawmakers to avoid accountability - we need transparent, open debate on these issues so we know where each and every politician stands. The "super-committee" idea allows lawmakers to "hold hands and jump off the cliff together," as they like to say, making unpopular and unwarranted cuts to social insurance programs. Let's debate the issues in the open and see who wants to cut benefits, and who does not.* The editorial conflates the financial issues facing these two programs - but they are very different. Social Security is funded mostly from payroll tax contributions, while Medicare funding is a hybrid of payroll taxes (Part A), and general revenue and premiums (Part B and Part D). The financial pressures affecting these two programs differ, and need to be thought about and addressed separately.* The Post seems to think that raising the Medicare age is a reasonable idea, suggesting that this would simply mirror the Social Security full retirement age (67 for those born after 1960.). But unifying the retirement ages for the two programs really makes no sense. Workers could still file for Social Security anytime from 62 to 70, and that wouldn't change.There will be a push at some point to increase the Social Security full retirement age further, to age 70. Any change of that type most likely will affect younger workers, not people nearing retirement or already retired. And younger workers really need to pay attention this. The 1983 reforms that boosted the Social Security retirement age to 67 from 65 already has cut benefits by 13% for everyone born 1960 or later. GenX, Millenial and younger generations should realize they're already on track to get less out of the program than previous generations did. And younger workers certainly should oppose a higher Medicare age, which would push millions into higher-cost and less robust ACA policies after they retire while waiting for Medicare at 67.The underlying idea that "everyone is living longer" and therefore "we all will be working longer" is false. Yes, higher-educated, more affluent people are living and working longer. But that's not true across the board. Vast majority of workers have filed for Social Security by their full retirement age.Retirement Reboot in the newsThere are no miracles, quick fixes for retirement saving. Chris Farrell reviews Retirement Reboot in his Minneapolis Star-Tribune column.What I'm readingThe next retirement communities won't just be for seniors . . . Target date funds had a rocky 2022 . . . Fed's interest-rate hikes make T-bills an attractive, safer investment . . . GoodRx leaked health data to Facebook and Google . . . Why states need master plans for aging . . . Government lets health plans that ripped off Medicare keep the money . . . Short on cash, more Americans tap 401(k) savings for emergencies . . . The market tanked, but Americans kept piling money into their 401(k)s . . . Mark Cuban and Amazon are shaking up generic drugs . . . Green funds cost three times more than you think . . . SEC puts dual-registered advisors on notice in risk alert . . . Retirees lost millions to romance scams during the pandemic . . . Navigating the first year of retirement, a couple hops on a tandem bike . . . The medicine is a miracle, but only if you can afford it. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

Social Security myths are dispelled. And traditional Medicare v. Medicare Advantage Plans is explained. Nancy Altman, a 40 plus year veteran of Social Security laws shares details about bad actors in Medicare Advantage Plans and 4 things to think about when choosing between traditional Medicare and Medicare Advantage Plans.Being Well Informed is a program designed to share information on trending topics. Currently our podcast/tv program airs weekly. Our podcast is also featured on Amazon Music, Podbean, Spotify, iHeart Radio, You Tube, Google Podcasts, Apple Podcasts, and many other platforms.

In PART TWO about protecting social security, Joe Madison interviews social security expert Nancy Altman to explain the facts and myths about the program and why you must vote against the politicians who would dismantle it.

We talk about maple syrup, social security with guest Nancy Altman, rent price control, and a subpoena against Donald Trump. Call or text ‪(202) 656-6271‬ to participate in the show!

The podcast is back this week with a look at the historic cost-of-living adjustment in Social Security benefits announced this morning.The Social Security Administration announced that benefits will rise by 8.7% in 2023. That's a big raise for more than 52 million retired Americans, and another 18 million who are survivors of covered workers or recipients of disability benefits or Supplemental Security Income. The maximum amount of earnings subject to the Social Security tax will increase to $160,200 from $147,000.I published an in-depth story about the Social Security COLA in the New York Times this week that's been drawing a lot of traffic, comments and questions. It answers a variety of questions about the COLA. The story explains why the 2023 COLA will be so high, and it discusses the accuracy of the COLA in tracking inflation for seniors. I even get into how the inflation hike might impact your taxes. For the podcast, I invited a panel of experts on Social Security to join me to talk about the COLA. We took a dive into the history of the COLA and why it is so important to the well-being of seniors. We also got into the question of adequacy of benefits. With such a big headline COLA figure, it's tempting to think that seniors are living on easy street. But keep in mind that the COLA does no more than keep seniors even with inflation. The reality is that about half of seniors struggle to meet their basic living expenses.Joining me are three guests.Nancy Altman is president of Social Security Works, one of the most important advocacy groups working to protect and expand Social Security. Nancy also is an appointed member of the Social Security Advisory Board - a bipartisan, independent federal government agency that advises the President, Congress, and the Commissioner of Social Security on Social Security programs. Ramsey Alwin is president and CEO of the National Coalition on Aging, one of the key organizations that advocates on behalf of seniors. Much of Ramsey's work has focused on economic security and seniors, with a special focus on poverty.Bill Arnone is the CEO of the National Academy of Social Insurance. NASI is a non-profit, non-partisan organization made up of the nation's leading experts on social insurance. Bill's professional background also includes expertise in taxes and employee benefits.Listen to the podcast by clicking the player icon at the top of the newsletter, or check it out wherever you get your podcasts.Also see this Times story on how the COLA will bring relief to millions of seniors.Medicare open enrollment gets underway this weekendOpen enrollment runs from October 15th through December 7th, and my Morningstar column this month examines the barrage of marketing seniors face each fall for Medicare Advantage plans. Some of that advertising has sparked a surge in consumer complaints about deceptive claims, and new rules from Medicare aimed at curbing deceptive advertising practices by third-party marketers of Medicare Advantage and Medicare Part D plans.An update on vaccinationI found this update on vaccination in the U.S. from the PBS NewsHour especially helpful. The number of confirmed and reported COVID cases in the U.S. is at its lowest point since last spring. But the average number of deaths associated with COVID remains at more than 350 a day. Public health experts are increasingly concerned that too many Americans are missing out on a chance to get new boosters and avoid a worse winter. The Kaiser Family Foundation reports that awareness of the updated boosters is relatively modest, with about half of adults saying they've heard “a lot” (17%) or “some” (33%) about the new shots. About a third of all adults (32%) say they've already gotten a new booster dose or intend to get one “as soon as possible.”What I'm readingCongress may boost catch-up contribution limits . . . A new frontier for hearing aids . . . In-depth guide to over-the-counter hearing aids . . . Older storm victims face an uncertain future . . . Work remotely from anywhere. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit retirementrevised.substack.com

Social Security Legend Nancy Altman Shares Her 50 years + Of Experience With The Program. Welcome to episode #23 of Social Security: Answers From The Experts with Martha Shedden. In this episode Martha sits down with Nancy Altman and they deliver a thorough breakdown of how Social Security works, why it's so important, and what's happening politically around it. Nancy has a forty-five year background in the areas of Social Security and private pensions. She is the president of Social Security Works and chair of the Strengthen Social Security coalition. She is also the author of The Battle for Social Security: From FDR's Vision to Bush's Gamble as well as The Truth About Social Security: The Founders' Words Refute Revisionist History, Zombie Lies, and Common Misunderstandings. She is also the co-author on a few other books that address Social Security issues and concerns.   Here is what to expect on this week's show: A look at how Nancy became interested in Social Security topics, enough to make it her career. Information about the effects of the 1983 Social Security amendments and Nancy's influence upon them. A look at who wants us to believe that Social Security will collapse and why (referring to the billionaire funded campaign behind this). A look at the most common lies and misunderstandings about Social Security (and specifically it's effect on the national deficit). Why is it so hard for lawmakers to get anything passed as relates to Social Security? What exactly is FICA (the Federal Insurance Contributions Act) and why is it so important? Multiple looks at the history of Social Security, it's surpluses, and how it came to be such an efficient and useful tool for American society. What changes should happen for lower and middle class paychecks and how does that affect Social Security? A look at the state by state reports that Nancy puts out at Social Security Works. What would FDR think about the way we care for and think about Social Security as a society today?     Relevant Links: https://socialsecurityworks.org/   Connect with Nancy & Social Security Works: LinkedIn: https://www.linkedin.com/in/nancy-altman-280b313a/ YouTube: https://www.youtube.com/user/wearesocialsecurity Facebook: https://www.facebook.com/socialsecurityworks/ Twitter: https://twitter.com/SSWorks     Learn more about your ad choices. Visit megaphone.fm/adchoices

Race and the history of gun rights in America. Why it's time to expand Social Security. Plus Bill Press on the continuing threat of right-wing media.  Historian Carol Anderson on her new book The Second: Race and Guns in a Fatally Unequal America. Nancy Altman on her new book Social Security Works For Everyone!: Protecting and Expanding America's Most Popular Social Program.Plus Bill Press with CNN's Brian Stelter on Fox News and its relentless grip on the Republican party. Carol Anderson In her latest book, Carol Anderson offers a critical new look at the evolution of the right to bear arms in American History. It's a story that begins with the nation's founding and the desire to put down slave revolts. Nancy Altman Across the ideological divide, poll after poll shows Americans are united against any cuts to Social Security. Nancy Altman says it's time to listen to the will of the people and go a step further by expanding the nation's most popular social program.  Brian Stelter Bill Press with CNN's Brian Stelter on the influence of Fox in a post-​Trump era. If you'd like to hear the entire episode, visit BillPressPods.com. Jim Hightower Hey Washington: Follow The People “Those in the know” say that We the People should forget any progressive fantasy that – at long last – Washington might finally produce the kind of bold FDR-style agenda that America needs. They smugly lecture us that recalcitrant Republicans in Congress, not to mention a swarm of corporate lobbyists, are opposed to progressive change, so who could get it passed? Here's an idea: Try the people themselves.

For today's podcast, I was happy to speak to two of the long-time fighters to expand Social Security, Nancy Altman and Eric Kingson, about their new book, just out from The New Press, Social Security Works for Everyone! Protecting and Expanding the Insurance Americans Love and Count On. This was a great conversation about what […]

This week, Off-Kilter’s bringing you a conversation Rebecca moderated at The Century Foundation earlier this week, on the historic opportunity to make long overdue improvements to Supplemental Security Income as part of #BuildBackBetter—featuring Sen Sherrod Brown, Rep. Raul Grijalva, and Rep. Jamaal Bowman, as well as a panel of disability and seniors’ advocates.   Guests: Senator Sherrod Brown (D-OH); Congressman Jamaal Bowman (D-NY); Congressman Raul Grijalva (D-CA); Nancy Altman, president, Social Security Works; Matthew Cortland, chronically ill, disabled lawyer and senior fellow, Data for Progress; Kristen Dama, managing attorney for SSI, Community Legal Services of Philadelphia; Tracey Gronniger, directing attorney, economic security, Justice in Aging; Mia Ives-Rublee, director, Center for American Progress Disability Justice Initiative; and Kathleen Romig, senior policy analyst, Center on Budget and Policy Priorities.     Show notes: Event video: https://tcf.org/content/event/strengthening-ssi-must-part-building-back-better/ Polling: bit.ly/SSIpolling  Follow #DemolishDisabledPoverty  More on SSI: https://thehill.com/blogs/congress-blog/politics/550027-the-safety-net-program-congress-forgot?rl=1

Social Security Works President Nancy Altman published an op-ed detailing how Donald Trump could make Social Security benefits come to a screeching halt with no action from Congress whatsoever. Trump is already claiming the power to unilaterally defer Social Security contributions, and if he's reelected it would simply be a matter of continuing to do so.

Source: AARPThis week on the podcast, we consider this startling question: What would happen to Social Security if we eliminate its funding?  That’s the question I’m asking myself following Donald Trump’s presidential memorandum last weekend ordering the deferral through year-end of revenue collected under the Federal Insurance Contributions Act - better known as the payroll tax - that funds Social Security. FICA is the more appropriate name, because it more accurately describes the purpose of these payroll deductions. This is the main way that Social Security is funded - a 12.4% tax split evenly by workers and employers. The program also earns some revenue from interest on trust fund bonds and taxation of benefits, but that’s trivial compared with the $1 trillion in FICA that comes in to the Social Security trust fund every year.And FICA is the more appropriate name, because it more accurately describes the purpose of these payroll deductions - they are insurance premiums that we pay for Social Security. Which is a social insurance program. That’s a term that used to mean something in our country, but it is hardly used anymore. So, just to review the bidding:Social Security and Medicare provide benefits we all earn through a lifetime of premiums - that we pay via FICA. The idea of an earned benefit is the core concept of social insurance, alongside the idea that these programs efficiently protect us all against risks - namely, the loss of income in old age in the case of Social Security, or healthcare costs in the case of Medicare. But here’s the real stunner: in an election year, Trump threatened last weekend to push for termination of FICA altogether if he wins a second term. One of his top campaign lieutenants doubled down on that pledge in a tweet. White House officials have been scrambling all week to walk this back, but . . . who knows.I wrote about this for Reuters this week. But I also covered a fascinating webinar yesterday on Social Security reform where this came up. It was sponsored by the American Academy of Actuaries, and it featured a panel of Social Security experts from different perspectives and areas of expertise. Social Security’s chief actuary was on the call - and when you hear Steve Goss talk about Social Security, you really are hearing from the authoritative source on the finances of the program. The panel also included panelists with three different ideological perspectives - Rachel Greszler, an economist with the Heritage Foundation, Bill Hoaglund of the Bipartisan Policy Center, and Nancy Altman of Social Security Works.If we stop funding Social Security through FICA, just about anything can happen. The concept of an earned benefit can go out the window pretty quick, and people will start thinking of Social Security as welfare. The podcast includes comments from all the webinar guests, and there’s an especially valuable overview from Goss on the current state of Social Security’s finances. Steve references some of his presentation slides in that clip, so if you want to follow along with him, here’s a link to a downloadable PDF that includes the relevant slides. The whole thing gets a little wonky, so you may prefer to just listen.Ironically, all this is up for discussion on the 85th birthday of Social Security. FDR signed Social Security’s enabling legislation on this date in 1935 - and it has has never missed payment of a dime’s worth of benefits. For most of its history, Social Security has been our most important retirement program. And for most of its history it has been the subject of controversy and unwarranted attacks. Defunding Social Security is a surprising proposal to hear in an election year - just take a look at the chart at the top of the newsletter showing responses to a new public survey on Social Security issued today by AARP to commemorate the anniversary - this question shows the overwhelming support for Social Security by Democrats, Republicans and independents alike as they respond to this question: How important is Social Security relative to other government programs?This is a year to pay attention to what politicans say about the future of the program.Not a subscriber yet? Take advantage of a special offerSign up now for the free or subscriber edition of the newsletter, and I’ll email a copy of my latest retirement guide to you. This one looks at dealing with the Social Security Administration during the COVID19 crisis. Customer service at the Social Security Administration has changed during the coronavirus crisis - the agency closed its network of more than 1,200 field offices to the public in March. Just a reminder- subscribers, have access to the entire series of guides at any time. Click on the little green button to subscribe, or go here to learn more.America’s racial retirement gap, and how to close it In this weekend’s New York Times, I examine how structural racism impacts people of color in retirement, and ideas that have surfaced to address the problem.Racial gaps in retirement security were large before the coronavirus struck, and the economic disruptions caused by the pandemic could worsen the problem.Since the pandemic hit, unemployment rates for older Black and Latino workers have been much higher than for their white counterparts, and evidence is mounting that millions of older workers will retire prematurely. That will mean sharp reductions in Social Security income, savings and costly disruptions in employer-provided health care that will hit nonwhite workers especially hard.But the gaps in resources for retirement were large before the pandemic. In 2016, the typical Black household approaching retirement had 46 percent of the retirement wealth of the typical white household, while the typical Hispanic household had 49 percent, according to a study by the Center for Retirement Research at Boston College.A bit of good news: Social Security closes the racial gap significantly. The Center for Retirement Research at Boston College compared wealth ratios for white, Black and Latino near-retirement households, including Social Security and pensions, retirement and non-retirement saving accounts and home equity. But the researchers then compared wealth with and without Social Security. This first table shows what the wealth gap would look like if we didn’t have Social Security - you can see the gaps are quite large. This second table compares wealth including Social Security. Inequality is still large, but not quite as staggering.This is due in part to Social Security’s progressive benefit formula — it returns a higher percentage of pre-retirement income to lower-income than higher-income workers. And unlike private pensions and homeownership, nearly all Americans participate in Social Security. The universal nature of Social Security also is an important factor. My Times story discusses ways that Social Security could be changed to close the gap further, and an intriguing concept for jump-starting wealth for people of color at birth. This is a public episode. Get access to private episodes at retirementrevised.substack.com/subscribe

This week on the podcast, we examine proposed Senate legislation to create Congressional “rescue committees” that could propose cutbacks to Social Security and Medicare benefits.My guest is Nancy Altman, the president of Social Security Works, one of the leading progressive advocacy organizations for Social Security. Nancy also brings a unique vantage point as a scholar and historian of Social Security. And she also served on the staff of the Greenspan Commission, which succeeded in passing significant reforms to Social Security back in 1983.Senator Mitt Romney of Utah is the sponsor of the TRUST Act, a bill I consider to be ironically named, because it could lead to benefit cuts for these programs through a secretive closed-door committee process. The TRUST Act has been rattling around Congress for a while, but now it may be included in whatever pandemic relief bill the Senate Republicans wind up proposing. Yes, you heard that right - in the middle of a pandemic, Senate Republicans may propose a review of Social Security and Medicare that could lead to cutting these vital programs.The TRUST Act would require the U.S. Department of the Treasury to report to Congress on the health of the Social Security and Medicare trust funds within 45 days of passage. Congress would then appoint bipartisan committees to come up with recommendations by June of 2021. Then, lawmakers would be required to take an up or down vote on the proposals, with no amendments allowed.Ok, first - let’s stipulate that these trust funds have problems that need to be addressed. The Social Security trust fund is on track to be exhausted in about 15 years - at that point, it would have sufficient revenue coming in the door to pay roughly 80 percent of promised benefits. The Medicare hospital trust fund - which pays for Part A - is on track to be exhausted in 2026 - and it could be sooner than that due to the pandemic. But we don’t need reports from Treasury to know these things - the Social Security and Medicare trustees issue exhaustive, authoritative financial health reports annually. And we don’t need new analysis of ways to reform the programs - numerous studies, reports and Congressional hearings have been held in recent years, featuring testimony from experts representing all political and policy perspectives.But there’s a good reason why Republicans want this debated away from the public eye, especially where Social Security is concerned. Simply put, they want to advance ideas that the public doesn’t support, like higher retirement ages, means testing and a stingier annual cost of living increase. That is clear from their own legislative proposals in recent years, and the ideas they push in bipartisan policy settings, such as the 2016 report issued on retirement policy by the Bipartisan Policy Center. But public poll after public poll has shown that given the choice, the public would prefer higher taxes over benefit cuts. Sometimes, the Republicans come right out in the open and tell you why they want the debate to occur in private. Here’s Iowa Senator Joni Ernst at a town hall meeting last year:Click the player icon at the top of this page to listen to the podcast. And here’s my Reuters column this week, which discusses the TRUST Act.Not a subscriber yet? Take advantage of a special offerSign up now for the free or subscriber edition of the newsletter, and I’ll email a copy of my latest retirement guide to you. This one looks at dealing with the Social Security Administration during the COVID19 crisis. Customer service at the Social Security Administration has changed during the coronavirus crisis - the agency closed its network of more than 1,200 field offices to the public in March. Just a reminder- subscribers, have access to the entire series of guides at any time. Click on the little green button to subscribe, or go here to learn more.Why it’s time to fire your brokerJay Abolofia thinks it’s time to get rid of your broker.Jay is a fiduciary CFP, founder of his own planning firm, Lyon Financial Planning and an economist. You may recall that he joined me on the podcast back in March to talk about how to deal with fear of stock market volatility.Jay recently got back in touch with me about an article he posted on the high cost and financial conflicts involved in working with a stock broker - a timely topic, since the Security and Exchange Commission’s new (and toothless) “Regulation Best Interest” took effect recently. Jay’s post is titled Why it’s time to break up with your broker, and it details the numerous conflicts of interest and high fees that pose major barriers to your financial success. I’ve been highlighting this topic for years, but Jay did some great digging into the disclosure forms of the major brokerage firms, so I asked his permission to cross-post his article here:In his book The Four Pillars of Investing, financial theorist and author William Bernstein puts it bluntly:“Under no circumstances should you have anything to do with a full-service brokerage firm . . . Severing that professional relationship is necessary to your financial survival.”This is often easier said than done, as your broker may be your neighbor, friend or even family. In what follows, I shed light on the conflicts of interest and excessive fees that are commonplace in the brokerage industry today. (Please proceed with caution. What I’m about to share may shock you.)Your Broker is Not Your BuddyA stockbroker is a person in the business of buying and selling financial securities on behalf of customers. Long story short, a stockbroker is a professional salesperson. Brokers need trades to make money. Unlike investment advisors, who must register with the SEC or state securities regulator, brokers are not fiduciaries. Rather than being required by law to act in their clients’ best interest (like doctors, lawyers, bankers and accountants), brokers are instead subject to a “suitability” standard upheld by a private-sector organization. This standard says that brokers should “have a reasonable basis to believe a recommended transaction or investment strategy is suitable for the customer.” Yes, you read that correctly! As the old adage goes, a broker’s job is to slowly transfer his client’s assets to his own name.There are no educational requirements to be a broker. No courses in finance, economics or law. Not even a high-school diploma. Earn a 72% on the simple multiple choice Series 7 exam and you’re ready to manage other peoples’ life savings. Spend five minutes reading my Four Steps to Successful Long-term Investing and you’ll know far more than the average broker.Brokers have one incentive, and that is to earn their commission. This creates a minefield of conflicts. In their so-called Important Account Information booklet, a disclosure document hidden deeply within their website, Morgan Stanley beautifully summarizes many of these conflicts of interest. I count over twenty major conflicts (see pages 7-12). These read like a coup de grâce. Here are five I find particularly egregious.“A Financial Advisor has an incentive to recommend more transactions or to break transactions into smaller increments that might generate higher and more frequent commissions.”“A Financial Advisor has an incentive to recommend that you add more assets to your account, as it will generate a higher asset-based fee . . . [and earn them more] compensation based on certain milestones.”“Financial Advisors may receive more or less compensation if, for example, clients select certain products over others.”“Financial Advisors, could engage in outside business activities and investments or have outside or pre-existing relationships with product or service providers that conflict with their job responsibilities.""Financial Advisors are also compensated when their clients borrow funds."In short, you can’t trust much of anything your broker says. It’s not because they are inherently bad. It’s because they are trained and incentivized to sell, not to deliver objective advice.Your Broker Charges Exorbitant Asset-Based FeesBrokers are typically paid an investment management fee based on the amount of assets they manage in your accounts. These are called asset-based or assets under management (AUM) fees. These fees may or may not include any financial planning your broker provides and may be in addition to other fees, commissions, fund expenses, taxes, and investment-related costs. For example, a 2% AUM fee means you’ll pay $20K in fees this year on a $1M account. As the account grows, the fee grows proportionately.Below is a summary of AUM fees charged by some of the largest brokerage firms for their most common investment management service for retail customers. Morgan Stanley, Ameriprise and Wells Fargo take the cake for highest fees. Although publicly available, this information is a bear to uncover.[1] These fees are typically assessed on at least the first $1-5M in the account, depending on the broker and service, with slightly lower fees assessed on higher account balances.Two percent might not sound like much, until you consider that it’s ¼ to ½ of the gross annual return you may expect to earn in your accounts. Over years of investing, this can add up to hundreds of thousands of dollars lost, both to fees and lost investment growth—every dollar paid in fees is one less dollar earning compound interest in your account. With a 2% AUM fee, a $1M account growing at 6% a year will result in cumulative fees over 20 years of $623K and $443K in lost investment growth. This amounts to a loss of over $1M, or 48% of the account’s cumulative growth!Break Up With Your BrokerGiven these major conflicts of interest and exorbitant asset-based fees, Bernstein’s advice to break up with your broker really adds up. You’ll likely get much better financial advice and save hundreds of thousands of dollars by working with an independent, fee-only fiduciary. One with solid credentials and experience, who provides comprehensive financial planning, not just investment advice or management. Better yet, find an advisor who does all of this for a straightforward fixed-fee and your future self will thank you![1] Fee information can often be found in the firm’s disclosure documents. For example, read the section on “fees and compensation” in the firm’s “wrap fee” program brochure or ADV Part 2A. Here are source links I used for each firm: Morgan Stanley, Ameriprise, Wells Fargo, Merrill Lynch, Edward Jones, UBS, Fidelity, Charles Schwab. This is a public episode. Get access to private episodes at retirementrevised.substack.com/subscribe

Millions of people are waiting for a $1,200 payment meant to ease financial burdens from the economic shutdown due to the COVID 19 PANDEMIC. The Trump Administration is being criticized for stalling and even denying these payments to some Americans. In this this interview Nancy Altman, President of Social Security Works and a Pelosi appointed Social Security Advisory Board member, will discuses why some social security beneficiaries are not getting their payments, the importance of the national social security program and more. For inquiries please email: Tammy at PopularEducationRadio Instagram: @PopularEducationRadio STAY SAFE!

This week, a panel of outstanding journalists joins me on the podcast to talk about how retirement has changed during the decade now ending. The topic has been on my mind lately, as I published a story in The New York Times last weekend examining the changes we’ve seen since 2010, when the economy was just beginning to recover from the financial crash and Great Recession. Joining me are three colleagues on the aging beat:Judy Graham, who writes the Navigating Aging column for Kaiser Health News. Judy was was a senior health correspondent for many years at the Chicago Tribune, and has written for the New York Times, Washington Post and Los Angeles Times, among many other publications.Chris Farrell, senior economics contributor at Marketplace, American Public Media’s nationally syndicated public radio business and economic program. Chris also is an economics commentator for Minnesota Public Radio. His most recent book is Purpose and a Paycheck: Finding Meaning, Money, and Happiness is the Second Half of Life.Richard Eisenberg, Managing Editor of Next Avenue, the public media site for people 50+, where he is also editor of its Money & Policy and Work & Purpose channels. Previously, Rich was Executive Editor of Money magazine, Front Page Finance Editor at Yahoo! and Special Projects Editor/Money Editor at Good Housekeeping. He is the author of the books How to Avoid a Midlife Financial Crisis and The Money Book of Personal Finance.Reporting and writing the Times article prompted some reflection. I began to cover retirement just before the recession, and my first book, The Hard Times Guide to Retirement Security (2010) was published in the depths of the downturn. Those first few years on the beat, my reporting was very focused on the wreckage - the unemployment rate was high, the stock market was coming back and millions of workers were worried that their retirement plans were ruined.How are we doing now? It’s a very mixed bag. The Times story considers the state of retirement security from the standpoint of saving and investing, health insurance, employment, housing and Social Security. The key finding: Retirement in America has become a tale of two very different realities in the decade now drawing to a close.In 2010, the economy was just beginning to recover from the worst recession and financial crisis in recent memory. The unemployment rate was high, the stock market was coming back and millions of workers were worried that their retirement plans were ruined.Since then, a robust economic rebound has put some Americans back on solid footing for retirement, but progress has been uneven. Despite the gains made in employment, wage growth has only recently begun to recover — and remained flat for older workers. Retirement wealth has accumulated almost exclusively among higher-income households, while middle- and lower-income households have only held steady or lost ground, Federal Reserve data shows.Trends in Social Security and Medicare also are troubling. The value of Social Security benefits — measured by the share of pre-retirement income they replace — is falling, and the cost of Medicare is rising.Some of the most striking data comes from the Employee Benefit Research Institute, which has developed a model that simulates the percentage of households likely to have adequate resources to meet retirement expenses. The model considers household savings, home equity and income from Social Security and pensions.The model shows that the highest-income households have seen their odds of a successful retirement improve sharply during this decade, and they have very high odds of success. Middle-income households, meanwhile, have seen some gains, but still have only 50-50 odds of success. And the lowest-income households have seen their retirement prospects diminish sharply.This chart depicts the odds for boomers age 55-64 - the color bars represent different income quartiles (blue is lowest, yellow is highest). In 2019, the highest income households have a 93% chance of a successful retirement - up substantially since 2010, while the lowest had odds of just 11% - down substantially over that period. This chart depicts the same divergent trend among GenXers:A few things that I had hoped to discuss in the article wound up on the cutting room floor for space reasons, so I’ll mention them briefly here:Consumer protection: The crash gave birth to the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, which called for sweeping reforms to financial regulation — including financial advice on retirement.Dodd-Frank included language encouraging the Securities and Exchange Commission to adopt a uniform standard of fiduciary responsibility for brokers and advisers.“That was the point when it seemed possible we’d soon have a strong standard of conduct across the broad range of investment advice for retail investors to be protected in retirement plans,” said Barbara Roper, director of investor protection for the Consumer Federation of America.It wasn’t to be.When the S.E.C. failed to act promptly, the Obama-era Department of Labor adopted its own fiduciary rule governing retirement accounts. That rule died in 2018 when courts sided with opponents in the financial services and insurance industries, ruling that the department had overstepped its authority. The Securities and Exchange Commission completed work this year on its so-called Regulation Best Interest, which defines standards for brokers who sell investment products and explains the duties of investment advisers who provide financial guidance. Many critics regard the S.E.C. regulation as too weak, relying too heavily on disclosure to clients of any conflicts of interest.“One of the things that has really taken people by surprise in the S.E.C. rule is the degree to which they have adopted the weakest possible interpretation of the obligations investment advisers have as fiduciaries,” Ms. Roper said.Shifting Social Security politics: The political debate about how to solve Social Security’s long-range financial shortfall shifted significantly during the decade.In 2010, the bipartisan Bowles-Simpson presidential commission recommended changes that included further increases in the retirement age, a less generous cost-of-living adjustment and means testing for high-income workers.In 2019, Democrats’ plans are built around higher taxes and expanded benefits — and President Trump campaigned in 2016 promising to oppose benefit cuts.“The shift in the Democratic Party has been dramatic,” says Nancy Altman, president of Social Security Works, an advocacy group. “In contrast, the Republicans haven’t changed. They still want cuts and they still want to avoid accountability for those cuts.”Subscribe now!This is a listener-supported project, so please consider subscribing. The podcast is part of the subscription RetirementRevised newsletter. Subscribers have access to all the podcasts, plus my series of retirement guides on key challenges in retirement. Each guide is paired with a podcast interview with an expert on the topic; the series already covers Social Security claiming and the transition to Medicare, and how to hire a financial planner. The most recent looks at the critical decision between Original Medicare and Medicare Advantage. You can subscribe by clicking the little green “subscribe now” link at the bottom of this page, or by visiting RetirementRevised.com. And if you’re listening on Apple Podcasts, Spotify or Stitcher, I hope you’ll leave a review and comment to let me know what you think. This is a public episode. Get access to private episodes at retirementrevised.substack.com/subscribe

Social Security faces a financial shortfall in the years ahead that requires action by Congress. The combined trust funds for Social Security’s retirement and disability programs are on course to be depleted in 2035; without changes, funding from payroll tax receipts will be sufficient to pay only 80 percent of currently scheduled benefits. That would mean immediate, across-the-board benefit cuts, but the pain would be felt most acutely by today’s younger workers and low-income retirees. But Democrats are aiming to do more than simply address the solvency issue - they want to expand benefits. Their plans range from the relatively centrist proposal now advancing in the House of Representatives from Rep. John Larson, to more bold proposals from Elizabeth Warren and Bernie Sanders. On the podcast this week, we break down the proposals, and take a look at prospects for the Larson bill in the House this fall. My guest is Nancy Altman, one of the most knowledgeable people in the United States on Social Security. You may have heard of Nancy’s work as a progressive advocate for Social Security expansion - she heads up Social Security Works, one of the key grassroots group pushing for expansion as part of an overhaul that also would restore 75-year solvency to the program. But Nancy also wrote the book on the history of Social Security and why it should be expanded. Correction, she actually has written three authoritative books on Social Security. Nancy has been involved with Social Security policy since the 1980s, having served as a staffer on the Greenspan Commission, which crafted the last major Social Security reforms. In this conversation, Nancy and I cover:The 2035 problem (she doesn’t really see it as a “problem,” tho)Ways to restore solvency - basically, higher taxes, benefit cuts or a combination of bothWhy we both think higher taxes are the way to goAn overview of the plans from Larson, Sanders and Warren - also, where does Joe Biden stand on this issue?The politics of Social Security reform this fall and in the 2020 presidential electionRead about the three leading Democratic reform proposals here:Social Security 2100, sponsored by Rep. John Larson in the House of RepresentativesExpansion proposals from Sen. Bernie Sanders and Sen. Elizabeth Warren. expansion plan.Listen to the podcast by clicking on the player icon at the top of this page. The podcast also is available on Apple Podcasts and Stitcher.Subscribe now!This is a listener-supported project, so please consider subscribing. The podcast is part of the subscription RetirementRevised newsletter. Subscribers have access to all the podcasts, plus my series of retirement guides on key challenges in retirement. The series includes topics like Social Security claiming and the transition to Medicare. The series also will include guides to housing strategies for retirement, working longer as a retirement plan and much more. For a sample, check out the recently-published guide to the cost of healthcare in retirement, featuring an interview with retirement educator and actuary Steve Vernon.You can subscribe by clicking the little green “subscribe now” link at the bottom of this page, or by visiting RetirementRevised.com. And if you’re listening on Apple Podcasts or Stitcher, I hope you’ll leave a review and comment to let me know what you think. This is a public episode. Get access to private episodes at retirementrevised.substack.com/subscribe

The Truth about Social Security: The Founders' Words Refute Revisionist History, Zombie Lies, and Common Misunderstandings. That's quite a title and author and President of Social Security Works, Nancy Altman means every word of it. In the book, she uses the founder's own words to debunk myths and reveal the truth about the most popular and successful government program in our nation's history.

Delivering on the promise of economic security. Why social security works, and NAFTA 2.0 doesn’t. Plus Bill Press with DNC Chair Tom Perez on why the party of Lincoln is dead.   Why social security isn’t going broke and how expanding it will help all of us. Who wins and who loses under Trump’s renegotiated NAFTA.  Plus, DNC Chair Tom Perez tells Bill Press how history will judge Donald Trump and the Republicans who support him.   Arthur Stamoulis President Trump’s hoping to fast track his renegotiation of the North American Free Trade Agreement with a promise that he has the best plan for American workers. Arthur Stamoulis says the plan falls far short of that promise,  and a lot more work is needed for a NAFTA replacement to benefit working people and the planet.   Nancy Altman On August 14, 1935, President Franklin D. Roosevelt signed into law the Social Security Act. It remains one of the most important pieces of legislation in American history. Few can  speak better to that than Nancy Altman. Countering the many myths used to discredit Social Security, she says it’s time to fight to increase, not cut, the program.   Tom Perez Bill Press talks with DNC Chair Tom Perez about why he says Donald Trump is the most dangerous President in history.   Jim Hightower How ridiculous is Trump’s border stand?  

Economists call it the “old-age dependency ratio” - a rough measure of the balance between people who work and retirees. The ratio compares the number of people over age 65 - classified as “old” - with those aged 15 to 64 - and it is not headed in a healthy direction: by 2040, there will be 2.7 working-age Americans for each retiree, down from 4.8 in 2010. That number from the Federal Reserve Bank of Atlanta points toward a shortfall of workers available to support an aging population, and it is cited often to justify doom-and-gloom warnings about economic growth, federal spending and the health of our social insurance programs. But don’t tell that to Chris Farrell. The senior economics contributor to "Marketplace," American Public Media’s nationally syndicated public radio business and economic program, is bullish on aging. Farrell is the author of a new book, Purpose and a Paycheck: Finding Meaning, Money, and Happiness in the Second Half of Life, that seeks to upend a range of myths about old age and dependency, replacing them with a new vision of contribution to society and purpose-driven living. In this week’s podcast, I talk with Chris about some of the key ideas in his book:Why the "dependency ratio" is nonsense;Who is working longer - and why;Which industries and companies are accommodating older workers;The influence of women on the composition of an older workforce;Government polices that could make it easier for people to work longer.Subscribe!This podcast is excerpted from a series delivered each week to subscribers of the RetirementRevised newsletter. The newsletter delivers a concise summary of the week’s news on the retirement and aging beat, along with my most recent articles for Reuters, WealthManagement.com, Morningstar.com and The New York Times. Each edition includes a premium, full-length podcast featuring top experts on retirement planning and investing, Social Security and Medicare and the challenges of working longer.Recent episodes have featured:Nancy Altman, a leader in the progressive movement to strengthen and expand Social Security - and a scholar on Social Security’s history who has written several important books on the program;Jill Schlesinger, the personal finance guru at CBS News and author of The Dumb Things Smart People Do with Their Money;Mitch Tuchman, a pioneer in robo-advisory services and founder of Rebalance;Elizabeth White, author of 55, Underemployed, and Faking Normal, a remarkable personal narrative about the traumatic experience of job loss at midlife.Richard Johnson, director of the program on retirement policy at The Urban Institute, for a discussion of the pros and cons of a higher Social Security retirement age.Dan Prescher, co-author of The International Living Guide to Retiring Overseas on a Budget: How to Live Well on $25,000 a Year.I hope you’ll agree that the newsletter and podcast are a great way to stay on top of trends in retirement and aging. Click here to view a sample edition of the newsletter, featuring my podcast interview with Jill Schlesinger. Or, just click the little green button below. You know what to do. This is a public episode. Get access to private episodes at retirementrevised.substack.com/subscribe

What is the state of the job market for older workers? How can we better manage our careers as an asset that is part of a retirement plan? What are the prospects for people thinking of launching second careers as entrepreneurs.This week on the RetirementRevised.com podcast, we get the view on these questions from two of the nation’s top experts on 50+ careers - Kerry Hannon and John Tarnoff. Both are speakers and best-selling authors, with books to their credit advising older workers on how to navigate the job market. But they look at the 50+ job market through somewhat different lenses. Kerry is a journalist by background; her most recent book is Great Jobs for Everyone 50+, and she has a new book coming on this spring focused on older entrepreneurs, called Never Too Old to Get Rich: The Entrepreneur’s Guide to Starting a Business Mid-Life.John has worked as an executive and producer in the entertainment industry, and as a technology entrepreneur. His own career hit a wall at age 50, which led him to his current work as a career coach helping people navigate job transitions. In 2017 he published a best-selling book, Boomer Reinvention: How to Create Your Dream Career Over 50. In 2017, he was named by PBS/Next Avenue as one of its Influencers In Aging.Subscribe!This podcast is excerpted from a series delivered each week to subscribers of the RetirementRevised newsletter. The newsletter delivers a concise summary of the week’s news on the retirement and aging beat, along with my most recent articles for Reuters, WealthManagement.com, Morningstar.com and The New York Times. Each edition includes a premium podcast featuring top experts on retirement planning and investing, Social Security and Medicare and the challenges of working longer. Recent episodes have featured:Nancy Altman, a leader in the progressive movement to strengthen and expand Social Security - and a scholar on Social Security’s history who has written several important books on the program;Jill Schlesinger, the personal finance guru at CBS News and author of The Dumb Things Smart People Do with Their Money;Mitch Tuchman, a pioneer in robo-advisory services and founder of Rebalance;Elizabeth White, author of 55, Underemployed, and Faking Normal, a remarkable personal narrative about the traumatic experience of job loss at midlife.Richard Johnson, director of the program on retirement policy at The Urban Institute, for a discussion of the pros and cons of a higher Social Security retirement age.Dan Prescher, co-author of The International Living Guide to Retiring Overseas on a Budget: How to Live Well on $25,000 a Year.I hope you’ll agree that the newsletter and podcast are a great way to stay on top of trends in retirement and aging. Click here to view a sample edition of the newsletter, featuring my podcast interview with Jill Schlesinger. Or, just click the little green button below. You know what to do. This is a public episode. Get access to private episodes at retirementrevised.substack.com/subscribe

My guest on the RetirementRevised podcast this week is Jill Schlesinger. You probably know Jill from her reports on business for CBS News, or her national weekly radio program on personal finance, Jill on Money. Jill has just published her first book, The Dumb Things Smart People Do with Their Money. I don’t read many personal finance books or write about them very often - too often, they seem like homework and use simplistic formulas. Or, they’re selling a get rich quick formula (Bitcoin in your retirement account comes to mind). But Jill has a knack for boiling things down, and her great sense of humor makes it all go down easy. So do the funny stories she tells about her own financial mistakes along the way. Before getting into journalism, Jill got her start on Wall Street, and she also is a certified financial planner. In her book, she runs through 13 of the most costly blunders people make with money; we focused our conversation on four of those mistakes that can do real damage to a retirement plan.The in-depth version of this interview is available to subscribers to the RetirementRevised newsletter, along with my analysis of key things to keep in mind if you are contemplating retirement abroad. I’m making this shortened version of the podcast available for free.This is a listener-supported podcast!Imagine: a podcast with no annoying ads promising the most comfortable mattress you’ve ever slept on, or the best meal delivery service in the universe. The RetirementRevised podcast and newsletter are listener supported! No ads, anytime anywhere. If you haven’t considered a subscription, please do! For about the same price you’d pay for a couple large lattes, you get a month’s worth of the smartest conversations around on retirement and aging. Less caffeine, more smarts. A good thing, right?Subscribers get the full-length podcast interviews, plus my weekly deep dive into news and trends about retirement and aging via email. The newsletter aims to provide a must-read weekly summary of developments for retirement and aging professionals – and for anyone else with a deep interest in the field. The first edition of the podcast a few weeks ago featured Nancy Altman, who heads up Social Security Works, one of the key grassroots group pushing for expansion of Social Security and an admired historian of the program. Last week, I spoke with Dan Prescher of International Living magazine about retirement abroad. And next week, my guest will be Elizabeth White - author of 55, Underemployed, and Faking Normal, just out from Simon and Schuster. Elizabeth’s book is an intimate account of the loss of employment and career at midlife - both her own, and hundreds of people who she has spoken with since she first started speaking out on the topic in 2016. Don’t miss it! Learn more about the newsletter here, or click the little green button below to subscribe now. $10 per month or $120 annually; cancel anytime with no obligation. This is a public episode. Get access to private episodes at retirementrevised.substack.com/subscribe

The idea of retiring abroad holds a certain allure: great weather, new experiences and a fresh perspective on life. And then there are the living costs: living abroad can be a way to cut expenses dramatically. How dramatically? My guest on the podcast this week, Dan Prescher, is the co-author of The International Living Guide to Retiring Overseas on a Budget: How to Live Well on $25,000 a Year.Prescher is senior editor of International Living, a magazine and website that can be a terrific resource for anyone thinking about retiring abroad. Dan and his wife Suzan have lived in four countries over the past 18 years as they research and write about the ex-pat lifestyle. International Living publishes an annual Global Retirement Index that ranks top destinations. This year, they also feature a break-out of the types of extra “benefits” retirees get in various countries, mainly big discounts on transportation, entertainment and the like.But it’s important to understand that retirement abroad can be complicated. In this week’s podcast, I interview Dan about how to pick a location, along with implications for your finances, healthcare and more. The in-depth interview is available to subscribers to the RetirementRevised newsletter, along with my analysis of key things to keep in mind if you are comtemplating retirement abroad. I’m making this shortened version of the podcast available for free.Subscribe!If you haven’t checked out subscription to the weekly RetirementRevised newsletter, please consider it now! The weekly podcast is just getting started, and will feature interviews with some of the smartest people around on retirement aging. The first edition last week featured Nancy Altman, who heads up Social Security Works, one of the key grassroots group pushing for expansion of Social Security and an admired historian of the program. Along with the weekly podcast, you’ll get my weekly deep dive into news and trends about retirement and aging via email each week. The newsletter aims to provide a must-read weekly summary of developments for retirement and aging professionals – and for anyone else with a deep interest in the field. Learn more about the newsletter here, or click the little green button below to subscribe now. $10 per month or $120 annually; cancel anytime with no obligation. This is a public episode. Get access to private episodes at retirementrevised.substack.com/subscribe

Welcome to the first edition of the RetirementRevised.com podcast!The plan is to serve up interviews with the smartest people I can find on the retirement and aging beat - policy experts, researchers, economists, journalists and authors, financial planners and other top thinkers in the field. The podcast will be a weekly feature for paid subscribers to the RetirementRevised.com newsletter, and I’ll be tossing a few out for free, too (like this one). Probably once a week, we’ll see how it goes. I’d love to have your feedback and ideas for future podcasts - drop me a note in the comments field on this page, or here. This week . . . My guest this week is Nancy Altman - one of the most knowledgeable people in the United States on Social Security. You may have heard of Nancy’s work as a progressive advocate for Social Security expansion - she heads up Social Security Works, one of the key grassroots group pushing for expansion as part of an overhaul that also would restore 75-year solvency to the program. But Nancy also wrote the book on the history of Social Security and why it should be expanded. Correction, she actually has written three authoritative books on Social Security. Nancy has been involved with Social Security policy since the 1980s, having served as a staffer on the Greenspan Commission, which crafted the last major Social Security reforms. She also is a major mover/shaker on the latest proposals to expand Social Security, but I also wanted to chat with her about the program in the broader context of our current approach to retirement security. We discussed the evolution of the Democratic Party's approach to Social Security reform; the current proposal on the table in the House; the state of right wing privatization strategies; and the proper balance between private saving and Social Security.Learn moreFor further reading on some of the topics discussed on this podcast, check out Nancy Altman’s books. She also blogs at Huffington Post. I mentioned a study by the Urban Institute study on older workers and the risks posed to them by a higher retirement age; here’s a link to my recent column on that study.Subscribe!If you haven’t subscribed yet to the weekly newsletter, do it now! Along with the podcast, you’ll get my weekly deep dive into news and trends about retirement and aging via email each week. The newsletter aims to provide a must-read weekly summary of developments for retirement and aging professionals – and for anyone else with a deep interest in the field. Not every story – just the ones that matter most from the perspective of a journalist who has been covering the beat for nearly 15 years now. Learn more about the newsletter here, or click the little green button below to subscribe now. $10 per month or $120 annually; cancel anytime with no obligation. This is a public episode. Get access to private episodes at retirementrevised.substack.com/subscribe

Laugh, learn and listen to Nurse Talk Radio on Progressive Voices Tune In. You can download the PV APP @www.progressivevoices.com. This week on the show, author and President of Social Security Works, Nancy Altman is on a mission to debunk the manufactured myths about Social Security and she uses Facts to do it! And as nurses and other influential organizations and labor movements launch a national Medicare for All Campaign. Labor Campaign for Single Payer National Coordinator Mark Dudzic is with us today. And introducing medicare4all.org.

The Truth about Social Security: The Founders' Words Refute Revisionist History, Zombie Lies, and Common Misunderstandings. That's quite a title and author and President of Social Security Works, Nancy Altman means every word of it. In the book she uses the founder's own words to debunk myths and reveal the truth about the most popular and successful government program in our nation's history.

You know I’ve been on a kick lately for ways we older people can economize and make the most of our money, and today’s show digs into the question: How can the government help?   Yeah, yeah, I know the old joke: I’m from the government, and I’m here to help. Ronald Reagan said those were the nine most terrifying words in the English language.   But are they really? At age 62, I am already looking forward to a little help from Medicare and especially, Social Security. I mean, after all, a good bit was taken out of my paycheck over the years to pay for those programs, so why shouldn’t I get my money back?   Well, it turns out there is more than one answer to that question, and here to talk about one side of the debate on Social Security is Nancy Altman, President of Social Security Works and chair of the Strengthen Social Security coalition.      Ms. Altman has a forty-year background in the areas of Social Security and private pensions. She was appointed by Democratic House Leader Nancy Pelosi to sit on the seven-personSocial Security Advisory Board -- a bipartisan, independent federal government agency that advises the President, Congress, and the Commissioner of Social Security.   Ms. Altman is the author of The Battle for Social Security: From FDR’s Vision to Bush’s Gamble, and The Truth About Social Security: The Founders’ Words Refute Revisionist History, Zombie Lies, and Common Misunderstandings. She is also co-author of Social Security Works! Why Social Security Isn’t Going Broke and How Expanding It Will Help Us All.    Ms. Altman was on the faculty of Harvard University’s Kennedy School of Government and taught courses on private pensions and Social Security at the Harvard Law School. She was also Alan Greenspan’s assistant during the years he led the developed the 1983 Social Security amendments.   I’m exceedingly fortunate to have Nancy on the show, because she has shared her Social Security expertise on numerous other television and radio shows, including PBS NewsHour, MSNBC, and FOX News. She has published op-eds in dozens of newspapers including the New York Times, Wall Street Journal and USA Today.   So for some expertise and valuable insights on a program that affects every American, please welcome Ms. Nancy J. Altman to Dance Past Sunset.

Nancy Altman, President of Social Security Works joins Lush Left to discuss not only the importance of making sure social security and SSI and social programs are kept in place, but expanded. We also discuss the myths surrounding social security, her new book and much more!

27 August 2018 – This week we have Nancy Altman, the President of Social Security Works and the Chair of the Strengthen Social Security Coalition. We are dedicating this entire episode to Nancy’s new book, The Truth About Social Security: the Founder’s Words Refute Revisionist History, Zombie Lies and Common Misunderstandings. Guess what…Social Security is NOT going bankrupt. Social Security is neither an entitlement nor welfare. Instead, Social Security is an insurance program which will be there to pay its beneficiaries indefinitely into the future. Monied interests have been deeply invested in lying about Social Security all the way back to the 1930’s. We fight the zombie lies by learning the truth and sharing it. Just think of how much fun you can have with your crazy uncle MAGA at Thanksgiving! Oh, you won’t convince him but you will send his blood pressure through the roof! We are off next week for the Labor Day holiday and back the week after. Cheers! – Arliss

Sleep in! We'll wake up the President for you to tell him about our great idea to record a podcast about the Slow News Day episode of the West Wing. Joining us in this historic endeavor is returning guest Eli Attie, who shares his memories about real and fictional West Wing attempts to build a legacy. Nancy Altman, president of Social Security Works, also drops by to tell us just how Toby's efforts compare to the real history of Social Security reform. PS: we had a data glitch while recording and lost Josh's mic audio, so his side of the conversation is not up to our usual standards. Sorry about that! For more, visit thewestwingweekly.com/512

13 August 2018 – We were lucky enough to have Steve Grumbine, of Real Progressives, for the entire show. We talked briefly about the recent OH-12 special election and his take on how the Greens impacted the election. We then spent the rest of the show talking about spreading the word about modern monetary theory and messaging. Next week we have terrific interviews with experts on Puerto Rico and the following week we have Nancy Altman of Social Security Works on her new book, The Truth About Social Security. Stay tuned, August is going to be a great month on Hopping Mad! Many Carrots – Arliss

On today's show- Thom's take on Laura Ingram's reaction to immigration and a changing America. Then, Lori Wallach of Global Trade Watch catches up with the quietly ongoing negotiations for a new NAFTA. Callers discuss immigration, NAFTA, and how we're treating our soil. Congressman Bob Ney with Talk Media News looks at the nuts and bolts of the outcome of the special election in Ohio, plus other stories. Thom reads from 'Devil's Bargain: Steve Bannon, Donald Trump, and The Storming of the Presidency' by Joshua Green. Then finally, author Nancy Altman of Social Security Works refutes pervasive conservative propaganda meant to destroy support for the social safety net.

Social Security Works' Nancy Altman joins Rep. Keith Ellison remotely to discuss why Medicare for All is more efficient than the privatized health insurance status quo, and the idea's deep roots in America's own history.

It's time to dispel the hoax of "entitlement reform" and no one does it better than President of Social Security Works, Nancy Altman. On the heels of Senate Republicans jamming through a historically unpopular tax bill that enriches their wealthy donors at the American people’s expense, the tax giveaway to the wealthy triggered a $400 billion in automatic cuts to Medicare in the next decade. However, with little help from Republicans Congress ultimately voted afterwards to waive those cuts. Please listen to the important FACTS Nancy shares in this podcast.

Nurse Talk Radio visits with Nancy Altman, President of Social Security Works about yet another disastrous healthcare replacement bill. The Graham Cassidy bill is worse than its predecessors and must be stopped. Nurses also rallied against the bill with Deborah Burger RN and Co-President of National Nurses United saying, “The provisions in the Graham-Cassidy Amendment would be devastating for millions of our patients." Please call United States Capitol switchboard at (202) 224-3121 today to stop this proposed bill.

Richard Eskow, Campaign for America's Future & Host-The Zero Hour is in for Thom today talking about our social safety net including Senator Sanders' Medicare for All bill to make real health care a reality for all Americans...Plus, Nancy Altman from Social Security Works stops by as well...

Bill Press welcomes Christina Wilkie, Jon Allen, Nancy Altman, & Wendy Carrillo to discuss what to expect from Donald Trump's first address to a joint session of Congress, the administration's troubling connection to Russia, the future of social security, & the incredible story of a formerly-undocumented woman running for Congress in California - all the big highlights from this Tuesday edition of the Bill Press Show!

Social Security Works and a growing chorus of prominent voices in Congress and elsewhere are calling for the expansion of our Social Security system—people who know that Social Security will not “go broke” and does not add a penny to the national debt. Nancy Altman co-author of "Social Security Works" is with us today.

This week we will be joined by Donna Butts of Generations United who will talk about the importance of Social Security, not just to senior citizens, but across the span of generations. Nancy Altman, founder of Social Security Works will enlighten us about the environment leading to the establishment of her organization. Following Nancy, Social Security Works' executive Director, Alex Lawson, will share some of the challenges confronting America's most popular social program. The following is an excerpt DailyFinance.com about this Social Security myth: Myth No. 1: Social Security is going bankrupt  The biggest misunderstanding out there relates to Social Security's financial challenges. (A Google search for "Social Security bankruptcy" turned up 50 million hits.) But the fact is that Social Security isn't going bankrupt, nor is bankruptcy really possible as the system is currently set up.   And from the website of the Naational Committee To Preserve Social Security And Medicare: Medicare and the President’s Deficit Reduction Plan: Shifting Costs to Seniors How Cost-Sharing Leads to More Cost-Sharing: A Slippery Slope President Obama’s newest proposal for reducing the federal deficit would slice Medicare reimbursements to drug-makers, nursing homes, rehabilitation facilities, home health services and teaching hospitals.....   read the rest of the blog Thursday, Feb 18, from 4:30 PM - 6:30 PM   Rob Abston

Stephanie Rawlings-Blake on Democratic strategy … Gary Donaldson on LBJ and Ike … and Nancy Altman on the future of Social Security.   Baltimore Mayor Stephanie Rawlings-Blake, the secretary of the Democratic National Committee, says the party needs to talk to voters about issues they care about. Professor Gary Donaldson recalls an era when the two titans of their parties – Lyndon Johnson and President Eisenhower – worked together for the good of the country. And one of the country’s top experts on Social Security says the program can and should be expanded.   Stephanie Rawlings-Blake Stephanie Rawlings-Blake is the mayor of Baltimore and an up-and-coming force in the Democratic Party. She says the party’s dismal showing in 2014 resulted from not talking about issues Democrats are strong on. http://mayor.baltimorecity.gov/   Gary Donaldson There was once a time when Republicans and Democrats could compromise and get legislation passed for the good of the country. Historian Gary Donaldson recalls how President Eisenhower and Senate Democratic Leader Lyndon Johnson needed each other to accomplish their partisan aims. http://www.skyhorsepublishing.com/book/?GCOI=60239101661790   Nancy Altman Nancy Altman, a leading expert on Social Security, says expanding benefits is affordable and is, ultimately, a political, not an economic, issue. www.socialsecurityworks.org   Jim Hightower The corporate hustle of college bowl games.

Altman says Social Security should be expanded, Skillen reflects on faith and politics, and Forbath talks about the liberal foundations of Constitutional originalism.   Social Security expert Nancy Altman argues that the program is not only solvent but ought to be expanded. In this holiday season, religious philosopher James Skillen reflects on the connection between faith and politics in America. And law professor William Forbath says the Constitution is not only a legal charter but a political AND economic document, as well.   Nancy Altman Nancy Altman is an expert on Social Security, and she argues in a new book that not only is the system solvent, it can and should be expanded. www.socialsecurityworks.org   James Skillen Not many people these days have a high opinion of politics, but religious philosopher James Skillen says there is a strong link in American history between faith and the higher principles of governing. http://bakerpublishinggroup.com/books/the-good-of-politics/342640   William Forbath When we think of constitutional “originalism,” we tend to think of the Scalia wing of the Supreme Court. But law professor William Forbath tells us that the first originalists were liberals. http://www.utexas.edu/law/faculty/wef58/   Jim Hightower Avoid Amazon's "Cyber Monday," and buy local.