How To Fix Retirement Savings and Social Security with Robert Pozen - 129

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 28 August 2017

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Harvard Business School Senior Lecturer and Brookings Institution Senior Fellow Robert Pozen suggests fixing the retirement savings crisis with the Automatic IRA, and using Progressive Indexing to fix Social Security. Joe and Big Al discuss 6 Ways to Survive Retirement Income Shock, recourse versus non-recourse loans, RMDs on annuities in a 401(k), the difference between stocks that pay dividends and those that don’t, and Aretha Franklin’s plans for retirement.

Transcript

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0:00.0	My proposal is pretty simple.
0:02.0	Grow the Social Security payments more slowly for the wealthier, higher income, while keeping it for the lower income.
0:11.4	And that would really go a long way toward helping the system reach silencing.
0:16.7	That is Harvard Business School Senior Lecturer and Brookings Institution Senior Fellow, Robert Pozen.
0:22.6	Today, on Your Money, Your Wealth, he explains to Joe and Big Al, how progressive indexing can help fix our ailing social security system,
0:29.8	and how the automatic IRA could be the answer for America's retirement savings crisis.
0:34.5	No wonder Joe says he might be the smartest man in the world.
0:38.1	Also, we've got six ways to survive retirement income shock, recourse versus non-recourse loans, RMDs on annuities
0:44.3	in a 401K, the difference between stocks that pay dividends and those that don't, and Aretha Franklin's
0:50.2	plans for retirement. Now, here are Joe Anderson's CFP and Big Al Clopine CPA.
0:57.7	Sitting down and we're in the new studio today. Yeah, so it feels different. It does. It feels a little bit
1:02.6	different. We're kind of, it's kind of cool, although we're kind of sitting in a chair with a high
1:07.4	table. I kind of feel like a kid again. I can hardly get up to the top of the table. My feet are swaying and I'm 6'5. It's a little... It's like, wow. You got to stick around today
1:19.8	because we have probably the smartest man in the world. I think you could spend a whole segment
1:25.4	reading his bio. Maybe you should start that.
1:27.8	We got Robert Posen. He's coming on. He's a senior lecturer at MIT. A guy went to Harvard, got a
1:34.3	lot of degree from Yale, was an executive chairman for MFS investment management. He worked at
1:40.5	Fidelity. He was president of Fidelity Management Research. Senior fellow. He is a
1:45.7	senior fellow. Yeah, he worked for President Bush. He's worked for Mitt Romney. And he agreed to come on,
1:50.4	Archie. Yeah, he's been a chairman of the Securities Exchange Commission. I guess we don't
1:55.9	even know what to ask him. We'll do our best. I don't know. I'm a little nervous.
2:00.6	Little nervous. So, but yeah, you know what I heard on the way into the studio this morning?
	...

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