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Laurence Kotlikoff is a Professor of Economics and Boston University. Professor Kotlikoff is one of the nation’s leading experts on fiscal policy, national saving and personal finance.
Professor Kotlikoff is the author or co-author of 15 books and he publishes extensively in newspapers, magazines and blogs on issues of personal finance, financial reform, taxes,...
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Chained CPI Could Short-Change Retirees
Congress is considering an alternative inflation measure as part of its deficit reduction initiatives. The alternative inflation measure is known as the chained consumer price index or chained CPI . The chained CPI includes an adjustment mechanism that presumably accounts for consumers switching to substitute goods and services when a similar category of goods or services experiences rapid price increases. The overall result of this adjustment for substitutes is a price index that that...
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Will You be Able to Retire?
Roughly 10,000 Americans will retire each day for the next nineteen years. Many millions of these retirees will have financial profiles that are considered statistically average.
What, exactly, does it mean to be financially average, and what might retirement look like for the average person or household? How might the financial aspects of retirement play-out for you, your parents, or your family and friends?
Let’s take a look at some data sources to consider the average profile and how it may apply to your situation. For simplicity, I’ll give the average American retiree a name – I’ll call him William.
Who is William?
Let’s lend some definition to William by building a...
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Policy Group Proposes Significant Changes to Social Security
A Democratic-leaning policy group known as Third Way has released a proposal that offers recommendations for trimming the U.S. federal budget deficit. Among the set of recommendations are proposed modifications to Social Security : Eliminate Social Security benefits entirely for individuals earning $200,000 or more in outside income and couples earning $400,000 or more. Begin to reduce Social Security benefits for individual incomes starting at $150,000 and couples with income of $250,000...
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