Tag: Retirement

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I have a Youtube channel where I discuss the insanity that there is a “Retirement Crisis”. It’s all fake, all the time. And yet, it seems everyone is worried about running out of money in retirement. Of course the evidence for that is non-existent. It’s really no different than climate alarmism. And it bothers me […]

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Read this… I dare ya! The headline reads: Read More View Post

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Republicans have an issue ready-made for them that will secure their legacies for a generation: Social Security (and Medicare for good measure). But until Trump came along no Republican had the political sense to actually see this issue for what it is, a huge potential to expand the voting base.  Other than some teachers in […]

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Recommended by Ricochet Members Created with Sketch. 401(k)s Not Working for People?

 

I work as a “retirement plan administrator” and am credentialed as an “expert” in the non-investment-side of 401(k)s and older-style pension plans. As such, my antennae always twitch any time I see a story regarding my industry. This story got me shaking my head at the framing of the issue.

I see companies’ payroll, deferral, and contribution figures every day, so I know that folks are not utilizing their 401(k) plans enough. Such a huge percentage of employees don’t defer anything, while others are deferring only, say, 2 percent; not even enough to earn all of their company’s matching contribution available to them.

Jim Geraghty of National Review and Greg Corombos of Radio America welcome a decision from the 8th U.S. Circuit Court of Appeals that strongly boosts the freedom of conscience in a culture that often wants to crush any departure from liberal groupthink. They also take a wait and see approach as media outlets fret about Trump allies compiling dossiers to confront journalists in the 2020 cycle. They unload on CNN’s Brian Stelter for failing to confront a “Reliable Sources” guest who claims President Trump is responsible for more deaths than Hitler, Stalin, or Mao. And Jim has some strong opinions about those Indianapolis Colts fans who booed quarterback Andrew Luck for retiring on Saturday night.

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Wherever there are free markets, there are people with poor impulse control. One can sympathize with the temptation to over-indulge. We all want more than what we can afford. But ultimately the fault of spending beyond one’s budget rests with the consumer and not with clever advertisers. That said, elderly consumers have always presented dilemmas […]

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You asked, we answered—how can normal 20-somethings afford to live in DC and still make good financial decisions for their future? Lyndsey and Bethany give their tips (and cautionary tales) and tricks for staying out of debt, saving for retirement, and not freaking out about money.

Bethany’s NYP piece on affording multiple kids: https://nypost.com/2019/08/03/prince-harry-may-want-2-kids-max-but-life-is-better-with-a-big-family/
Well & Good article on financial planning for couples: https://www.wellandgood.com/good-advice/separate-finances-in-marriage/

Recommended by Ricochet Members Created with Sketch. Ichiro Retires

 

A few years ago, Ichiro Suzuki said his goal was to play major league baseball until he was 50. Well, that’s one baseball goal Ichiro won’t attain. Yesterday, March 21, 2019, the 45-year-old told the Mariners that today’s game would be his last. It was a homecoming of sorts for Ichiro, as the Mariners started the season with a two-game set against the Oakland A’s in Tokyo, Japan. Although the Mariners swept the two games, Ichiro went hitless in both games but received a well-deserved standing ovation as he was removed from the second game in the bottom of the eighth. Thus ended one of the most unique careers of all time.

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Before companies and corporations became Mega, employers understood that those who were about to retire should mentor the workers they left behind. Possibly the word “mentor” wasn’t used, but there would be informal ways of ensuring that the people with the most knowledge and experience at their jobs left the wisdom of the experience with […]

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Today is the first anniversary of both my and neutral observer’s retirements. We’ll be celebrating with a pair of thick ribeyes grilled medium rare, loaded baked potatoes, and sautéed mushrooms. However, the wine is extra special and a personal favorite—Inglenook Cabernet Sauvignon, 2012 vintage (costs more than the rest of the meal combined). So I’ll […]

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Recommended by Ricochet Members Created with Sketch. Member Post

 

By age 68, many people’s lives are slowing down. At that age, most of us have had a full working life, raised and sent on their way their beloved children, and are ready to leave the work force and retire. My generation, the “baby boomers” was the first cohort whose women found before them the […]

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Around my neck of the woods, almost all doctors and medical facilities have a sign in their lobby that says “No new Medicare patients”. I’ve heard of this happening in many other parts of the country as well. Given that lots of people retire at 65 (or later) and move to their dream retirement home […]

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Jim Geraghty of National Review and Greg Corombos of Radio America react to the U.S. Supreme Court allowing President Trump’s travel ban on six nations to go into effect while the courts sort out the legal challenges. Regardless of whether the ban is a good idea, U.S. law clearly gives the president the authority to do this. They also shudder as the Republican National Committee follows President Trump’s lead and jumps back in to help Alabama U.S. Senate candidate Roy Moore. And they shake their heads as Michigan Rep. John Conyers says he is “retiring” from Congress and endorses his son in the race to succeed him.

This week on Banter, Andrew Biggs joined the show to assess the House Republicans’ recently released Tax Cuts and Jobs Act plan and to debunk the myth of the “retirement crisis.” He also discussed his work on the The Financial Oversight and Management Board for Puerto Rico to develop the island’s economy. In addition to his role on the board, Biggs is a resident scholar at AEI whose work focuses on Social Security reform, state and local government pensions, and public-sector pay and benefits. He participated in a seminar at AEI that analyzed the economic prospects of Puerto Rico post-Hurricane Maria. The link below will take you to the full event video.

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It’s a tradition dating back to the Founding Fathers: the American government financing safeguards, be it retirement (Social Security), health benefits (Medicare), or rewards for military service in the form of federal entitlements. In an age of debt and deficits, when will lawmakers address entitlement reform? John Cogan, Hoover’s Leonard and Shirley Ely Senior Fellow and author of a new book on the long history of federal entitlements, assesses where the Trump administration goes from here.

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One of the things I planned on was spending my first Monday morning of retirement in bed, not rising until eight or nine, well past my former six o’clock alarm. Well, that was my plan, until one of our cats woke us up at six thirty by barfing in our bedroom. Ka-hack! Ka-hack! K-HACK! Ga-LUP! […]

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Recommended by Ricochet Members Created with Sketch. QOTD: Lawrence of Clouds Hill

 

“You wonder what I am doing? Well, so do I, in truth. Days seem to dawn, suns to shine, evenings to follow, and then I sleep. What I have done, what I am doing, what I am going to do, puzzle and bewilder me. Have you ever been a leaf and fallen from your tree in autumn and been really puzzled about it? That’s the feeling.”T.E. Lawrence, Letter, May 1935

This AEI Events Podcast discusses Social Security – the largest federal program, the largest tax most workers pay, and the largest source of income for most retirees. AEI’s Andrew G. Biggs hosts Social Security’s chief actuary, Stephen C. Goss, to discuss the recently released 2017 Social Security’s Trustees Report. He addresses the program’s sustainability and implications of the proposed reforms.

Andrew G. Biggs and Paul N. Van de Water (Center on Budget and Policy Priorities) provide comments on the report, moderated by Alex J. Pollock (R Street Institute). Dr. Van de Water examines the relationship between Disability Insurance and Old-Age and Survivors Trust Funds. He argues that they have complementary distributional effects and should be addressed together. Dr. Biggs addresses what is driving the drop in disability insurance and the variety of reasons why different people need disability insurance.