Economics Matters with Laurence Kotlikoff

A year back, George Kinder joined Economics Matters -- the Podcast, to discuss his life's passion -- integrating Mindfulness, Meditation, and Money. They sound like strange bedfellows, but George is one part Henry Thoreau, one part Zen Master, one part Financial Guru, and ten parts Mensch. George's bio is here. He's a giant in the field of personal finance, based not just on his unique philosophical approach to money, but due to having trained thousands of financial planners -- in person or via his writings, about the path to personal and professional enlightenment. This requires, as George's new book points out, learning how to freeze, release, and expand each of our moments. Our lives are a sequence of moments. We have the freedom to control those moments, to make them longer by making them more productive and meaningful. This carries over to expanding the effective time in our lives, permitting us to have the time of our lives -- for ourselves and others. That's real freedom. 

Medicare Open Enrollment Is Here! And Phil Moeller's Back to Discuss his New Book: Get What's Yours for Medicare: Revised and Updated.  Phil's hot new book, Get What's Yours for Medicare: Maximize Your Coverage and Minimize Your Cost --  is available at Simon & Schuster as well as here, here, and here. Phil's my good friend and co-author with PBS NewsHour's Paul Solman of our NY Times best seller and fully up-to-date, Get What's Yours -- the Secrets to Maxing Out Your Social Security. This is Phil's second appearance on Economics Matters -- the Podcast. We discuss recent changes to Medicare and how best to decide whether to choose Traditional Medicare or a Medicare Advantage plan during the current open enrollment period. This is a complex decision.  Grab your kids, grab your spouse, grab your friends, and have everyone read Get What's Yours for Medicare: Revised and Updated before helping you make this major decision. 

Famed Washington Post Columnist and Editorial Board Member, Eduardo Porter, Joins Economics Matters --- the Podcast! Eduardo's books, The Price of Everything and American Poison are must reads. But then there's been an endless and ongoing stream of simply outstanding columns. Take this 2018, NY Times article on the Rust Belt. Roughly 800 words later, you have almost all you need to know about why "Make America Great Again" is not about fighting our supposed foreign economic enemies or keeping out rapists immigrants stealing our jobs. Instead, it's about education, city-specific economic initiatives, attracting new business, and capitalizing on the diversity of the available workforce. Listen or watch as Eduardo discusses our terrible, mixed-up, tribal, and also sporadically fantastic country and world. Eduardo has lived everywhere, investigated everything, listened to everyone, and thought out of the box on the entire gamut of economic, political, and social issues. He's a national treasure, not just for what he writes, not just for how he writes, but for showing everyone what journalism at the highest level continues to be.  Here's Eduardo's Washington Post bio page with a treasure trove of his writings. And those are simply articles in the Post. Eduardo spent two decades writing for and serving on the editorial board of the NY Times.  Before that, it was Bloomberg and others. Eduardo speaks five languages. 

One of the World's Top Economists -- MIT's Daron Acemoglu -- Discusses Automation, the Secret to Development, AI, the Origins of Conflict, Networks, the Sustainability of Democracy, and, Well, Your Jaw Will Drop.  Daron's Wiki page is here. The key point in is bio? At 40, Daron received the John Bates Clark Medal for the top economist under 40. He's just turned 57. Were there a prize for the top economist under 57 or, indeed, 100, Daron would be the sure winner. Please listen/watch this terrific episode of Economics Matters -- the Podcast and spend time with, arguably, the world's top economists, who is also the most down-to-earth, humble, and wonderful person.

Everything has changed since September 2022 when I discussed Israel's economy and geopolitics with Eytan and Yuval Steinitz, one of Israel's top security experts and former Finance Minister. Eytan's extraordinary bio, covering his amazing academic, public policy, and private-sector careers, is posted here. Please listen/watch this podcast that provides an up-to-date assessment of the war in Gaza, Israel's escalating confrontation with Iran and its proxies, particularly Hezbollah, and the political situation -- domestic and international. Eytan is a pure, but tough Mensch. You can hear in his voice the agony of this conflict -- for Israel, the hostages and their families, the thousands of innocent Palestinians who have been killed or injured, and for his own grandchildren, several of whom are in the military.  

Kevin Esler is the creator of ⁠⁠tipsladder.com⁠⁠, a free website that helps you purchase TIPS -- Treasury Inflation Protected Bonds. Back on July 18th, Kevin joined Economics Matters - the Podcast to walk everyone though his tremendously valuable tipsladder.com website. Kevin's spent the last few months making the tool far more accessible and versatile. You can now use a slider bar to see how much a ladder will cost that produces a given amount of annual real income over your specified number of years. You can also adjust the cost to determine how much real income will be forthcoming over your specified interval. I think watching / listening to this new podcast, either on its own or in combination with the prior podcast, will leave you an expert on the tool. In particular, you'll see that it's truly no big deal building (by purchasing) a tips ladder that can match up with the withdrawals of regular and retirement account assets needed to sustain your living standard. These withdrawal amounts are calculated by MaxiFi Planner. Just look for the red withdrawal amounts in the saving reports for both regular and retirement accounts.Kevin is a retiree from Australia with an extensive background in software and technology, which he leveraged into a series of top software engineering jobs at a range of leading companies including IBM, HP, and Disney Plus. After moving to the US he settled into a series of roles that saw him specializing in evolving technology and software development. Kevin is uniquely positioned as an authority due to his multifaceted expertise in tech and finance, particularly in understanding and managing investment strategies involving Treasury Inflation-Protected Securities (TIPS).

Take the guesswork out of financial decisions at every stage of life with Maxifi: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://maxifiplanner.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Designed by Economist Laurence Kotlikoff. Andrew Fesiak joins Professor Kotlikoff on Economics Matters for the 3rd time. He is a notable expert in Eastern European military and political affairs, particularly regarding Ukraine and Russia. Andrew’s insights are shaped by his profound connection to Ukraine, having lived there for over 22 years and studied at Kyiv State University. As a member of Black Trident, a U.S. security and defense consulting group, and a frequent commentator on Middle Eastern platforms, Andrew provides a nuanced and authoritative perspective on the ongoing conflict in Ukraine. Topics Covered: War and Peace Dynamics Ukrainian Defense Strategies Russia's Economic Struggles Implications of Western Support Time Stamps: 00:00 Arabic press prefers Russia; Middle Eastern interviews frequent. 08:38 Ukraine has reopened Black Sea trade routes successfully. 14:09 First post-WWII invasion and occupation of Russia. 19:37 Ukraine develops missiles independently, bypassing production within Ukraine. 22:04 Ukraine's drones hit Russia, affecting morale notably. 31:08 Ukraine's nuclear threat deters Russian escalation, speculation. 34:53 Biden needs advice from gang leaders, not Sullivan. 41:56 Is peace by conceding eastern Ukraine possible? 47:53 Western support critical for Ukrainian morale and combat. 49:36 Russians poorly equipped; conscripting older soldiers. 55:09 Andrew's insights: Patriotic, optimistic, urging West to support Ukraine. 01:01:36 US can't support Ukraine, can't defeat China. This discussion presents invaluable insights for anyone interested in international relations, military strategy, and the geopolitical intricacies of the Ukraine-Russia conflict. Andrew Fesiak's deep-rooted understanding of the situation offers perspectives that are not only academically rich but also grounded in real-world implications. ____________________________________________________ Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic. Follow Professor Kotlikoff: Facebook: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠kotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@kotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠laurencekotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Substack: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://larrykotlikoff.substack.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Books: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://kotlikoff.net/books/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Company: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://maxifiplanner.com/⁠⁠⁠

Take the guesswork out of financial decisions at every stage of life with Maxifi: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://maxifiplanner.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Designed by Economist Laurence Kotlikoff. Professor Kotlikoff delves into the nuanced world of life insurance with 2 groundbreaking tools that he developed, MaxiFi Planner and Maximize My Social Security. Both tools help individuals and advisors optimize financial planning and Social Security benefits.  Professor Kotlikoff challenges traditional life insurance advice, arguing that it often fails to account for the unique fiscal circumstances of each family. He shows how as an advanced software program, MaxiFi makes intricate financial calculations, breaking down taxes and insurance needs into tangible figures that truly reflect an individual's or family's situation. This revolutionary approach offers a personalized perspective, significantly different from the broad-brush methods commonly used. It is important to note, MaxiFi is an educational tool. Neither Professor Kotlikoff nor anyone at Economic Security Planning, Inc. is a financial professional. Hence, you need to consult a professional before purchasing life insurance. But make sure your professional uses MaxiFi to help in formulating their advice.Topics Covered: Advanced Financial Calculations Life Insurance Needs and Living Standards Contingent Planning for the Future Expert Insights and Practical Advice Time Stamps: 00:00 Choosing life insurance, software maximizes financial planning. 03:24 Study on life insurance, leading to software. 10:00 Program timeout caused temporary disconnect, discusses housing expenses. 13:31 Discretionary spending drops as child leaves household. 16:58 Couple adjusts living standard based on age. 20:45 Life insurance declines as wealth accumulates. 22:33 Frank's financial plan if Jane dies. 28:26 Life insurance coverage and costs as you age. 32:11 Jane needs less life insurance due to children. 33:22 Comparison of living expenses for three people. 38:51 Survivor reports ensure consistent living standard. 40:53 Tax implications vary with number of children. 46:28 Frank needs au pair if Jane dies. 49:47 Jane needs lower life insurance, discretionary spending. 51:57 Survivor benefits available, impacts life insurance needs. 55:12 Financial advice: be cautious, conservative, and educated. __________________________________________________ Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic. Follow Professor Kotlikoff: Facebook: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠kotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@kotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠laurencekotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Substack: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://larrykotlikoff.substack.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Books: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://kotlikoff.net/books/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Company: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://maxifiplanner.com/⁠⁠⁠

Take the guesswork out of financial decisions at every stage of life with Maxifi: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://maxifiplanner.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Designed by Economist Laurence Kotlikoff. Professor Kotlikoff is joined by Joe Klein and John Ellis, two towering figures in political journalism and global commentary. Joe Klein, a longtime correspondent for Time magazine and acclaimed author, brings decades of political insight and experience, including a Guggenheim fellowship. John Ellis, founder and editor of News Item, offers a sharp perspective on global politics, financial news, and technology, honed through years of editorial leadership. Together, they host the influential podcast "Night Owls," available on major platforms. Topics: Cultural and Religious Influences on Global Conflicts Global Leadership and Economic Solutions Potential Election Chaos and Cybersecurity Middle East Tensions and Global Strategic Movements 00:00 Larry Kotlikoff's podcast introduces distinguished guests. 04:14 Experienced journalist, failed retiree, unbiased reporting advocate. 09:53 Economics podcasts and posts without editorial restrictions. 13:03 Presidential substance and relatability crucial for winning. 17:06 Biden's policies face slow implementation and uncertainty. 19:17 Biden's mandate, challenges, and exceeding electorate's expectations. 21:51 Watered down but still significant; culture is crucial. 26:50 Election chaos predicted due to cyber attacks. 30:41 Challenges with voting machines and world tensions. 32:39 Iran cautious after war, uses proxies. Military dictatorship. 36:47 Netanyahu's future at stake over political shift. 42:09 Interest in Russia, Ukraine, Middle East, and China. 44:59 China's foreign policy focuses on natural resources. 47:28 John discusses global forces and China's strategy. 49:59 Ethnic divide in Ukraine, impact of war. 54:59 Challenges of rationality, tribalism, and leadership in geopolitics. 56:58 More economics needed in the discussion. This conversation dives deep into some of the most pressing issues of our time, from the nuance of international relations to the strategic maneuvers of global superpowers. Listeners stand to gain a clearer understanding of the complex interplay between cultural forces, economic policies, and political strategies that shape the world stage today. For anyone interested in the mechanics of global conflicts and the future of international diplomacy, this episode offers invaluable insights from veterans in political journalism. __________________________________________________ Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic. Follow Professor Kotlikoff: Facebook: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠kotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@kotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠laurencekotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Substack: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://larrykotlikoff.substack.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Books: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://kotlikoff.net/books/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Company: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://maxifiplanner.com/⁠⁠⁠

Take the guesswork out of financial decisions at every stage of life with Maxifi: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://maxifiplanner.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Designed by Economist Laurence Kotlikoff. Professor Laurence Kotlikoff is. joined by Steve Brown, an authoritative figure in the insurance and investment world. Steve Brown’s remarkable 43-year journey at John Hancock, from a summer intern to the CEO and chairman of the board, showcases his unparalleled expertise and leadership skills. As the first Jewish president of John Hancock in 1987, Steve’s influential role in both the insurance and investment divisions shaped the company's trajectory and broke significant barriers. Topics Covered: Navigating Leadership Challenges Ethics and Risk-Taking in Business Diversity, Equity, and Inclusion Strategic Business Decisions Time Stamps: 00:00 Grateful for opportunity, found passion in math. 04:22 Promoted through various positions to company president. 10:57 Overcame prejudice, led company to success. 13:21 Mutual company became like a stock company. 16:36 Improving opportunities for women at John Hancock. 19:52 Improving diversity in company, focusing on women. 26:12 Running a major corporation involves strategic decisions. 27:07 Opposition to change, pressure from Wall Street. 30:44 Successes and failures in taking business risks. 37:11 Honesty built trust, avoided unethical business practices. 41:30 CEO surprised by questions about women executives. 45:03 Work hard, follow your own moral compass. 48:49 Consultant reviewed compensation decisions, improved women's representation. 51:23 Discrimination is bad for business, doesn't pay. You will gain valuable insights into the complexities of corporate leadership, ethical decision-making, and the importance of diversity, equity, and inclusion in fostering a successful business environment. Steve Brown's experiences and lessons offer a masterclass in navigating corporate challenges, making this episode a must-listen for anyone aiming for career growth and business leadership. __________________________________________________ Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic. Follow Professor Kotlikoff: Facebook: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠kotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@kotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠laurencekotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Substack: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://larrykotlikoff.substack.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Books: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://kotlikoff.net/books/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Company: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://maxifiplanner.com/⁠⁠⁠