Economics Matters with Laurence Kotlikoff

Harry Margolis, an expert in elder law, discusses asset distribution, long-term care strategies, Medicaid maze, and elder care options. Learn insights on aging with dignity and security while navigating complex legal and financial concepts for everyday individuals.

Rick Miller and Laurence Kotlikoff discuss retirement planning strategies, misconceptions about savings, and the human psychology of financial decisions. They cover the importance of setting realistic goals, the need for comprehensive financial planning, and the differences in preferences for grocery shopping. The conversation also touches on high-income earners' retirement savings, the history of pensions, and the shortcomings of current economic planning tools.

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 two notable authorities in finance and estate planning: Frank Napolitano and Katie Von Kohorn. Frank Napolitano brings to the discussion his multifaceted experience as a certified financial planner and chartered financial analyst. His expertise shines in asset and risk management, setting him apart as a guiding force for clients navigating the complexities of estate planning and retirement income planning. Katie Von Kohorn, stands out with her 20-year tenure in trusts and estates law. A trusted advisor to multi-generational families, she wields a depth of knowledge in the intricacies of trust planning, charitable giving, and exempt organizations. This discussion provides invaluable insights for anyone seeking to understand the significance of estate planning and how to manage their financial legacy responsibly. Whether you're affluent or part of the middle class, the expertise of Napolitano and Von Kohorn will illuminate paths to ensure fair treatment of heirs and secure financial futures. Toipcs Covered: Strategic Estate Planning for Asset Protection Navigating Tax Implications and Benefits The Role of Trusts in Modern Financial Planning Time Stamps: 00:00 Discussing estate planning, gift planning, and finances. 16:14 Get a will or trust to decide. 17:57 Revocable trust aids in estate planning for beneficiaries. 23:04 Spouse as trustee, limited distributions for tax benefits. 24:16 Segregation, control, and distribution in marital trusts. 29:16 Trust needed to exempt $24 million tax. 33:15 Reducing estate tax using trust and insurance. 36:17 Concerns about trustee reliability, control, and succession. 37:42 Trustees' concerns, family members' roles, fiduciary duty. 46:10 Estate planning to protect inheritance and benefits. 47:23 Trustee charges for estate and child care. 51:01 Allocating assets between spouses with different amounts. 53:43 Options for handling assets in event of death. __________________________________________________________ Laurence Kotlikoff is a Boston University Economist, a NY Times Best Selling Author, President of maxifi.com, and Author of Money Magic. dr Follow Professor Kotlikoff: Facebook: kotlikoff Twitter: @kotlikoff LinkedIn: laurencekotlikoff Substack: https://larrykotlikoff.substack.com/ Books: https://kotlikoff.net/books/ Company: https://maxifiplanner.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠pace⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: ⁠@kotlikoff⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: laurencekotlikoff Substack: https://larrykotlikoff.substack.com/ Books: https://kotlikoff.net/books/ Company: https://maxifiplanner.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠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 engages in a thought-provoking discussion with Glenn Loury, a distinguished economist and academic known for his incisive analyses on racial and socioeconomic issues. As the Merton P. Stoltz Professor of the Social Sciences at Brown University, Loury's academic rigor and outspoken commentary on public policy have cemented his position as a leading voice on contemporary race relations and economics. His insights are enriched by a prolific career, with accolades from esteemed organizations, and his direct experience as the youngest African American to receive tenure in Harvard's economics department. Topics Discussed: College Admissions and Minority Representation The Examination of Affirmative Action's Efficacy Societal Mission of Educational Institutions. Race and Public Policy Time Stamps: 00:00 Boston University proud of hiring Glenn. 07:26 Accomplished intellectual holds prestigious memberships, pursues diverse interests. 13:31 Impact of stereotypes on minorities. 18:45 Debate over affirmative action and its consequences. 30:12 Alabama districting racially biased; racism not eliminated. 37:14 Issue with admissions at Harvard University and Alabama. 38:08 Harvard admissions considers various factors, including ethnicity. 46:29 Admissions may accept based on interviews only. 53:21 Schools have specific criteria for class diversity. 56:27 Diverse society with strong, persuasive views. 59:37 Early education crucial to addressing college disparities. 01:08:31 Harvard produces successful graduates, despite controversies. 01:10:19 Grateful for diverse friends and interesting discussions. You will come away with a richer understanding of the nuanced debates around education, affirmative action, and racial justice, emboldened by Loury's authoritative yet accessible discourse. This dialogue promises not only to enlighten but also to ignite a broader conversation on the intersection of economics, race, and policy. _____________________________________________________ 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 sits down with guest Peter Coy, whose prolific career in journalism has solidified his position as a leading voice in the articulation of complex economic issues to the public. With a rich background that spans from covering the history of the periodic table to providing in-depth analyses on the economic repercussions of the COVID-19 pandemic, Coy brings not only a wealth of knowledge but also a unique ability to make dense topics accessible and engaging. His authority springs from decades of experience, interviews with eminent economists like Milton Friedman, and his tenure as an economics editor. Topics Covered: Commercial Real Estate and Banking Solvency. Challenges of Modern Macroeconomics. Geo-economic Shifts and the Future. Journalism and Economics. Time Stamps: 00:00 Peter's diverse career path from history major to columnist. 05:12 Harvard's lessons still relevant; writing for NYT. 10:38 Peter interviews multiple economists for insightful articles. 14:30 Public writing, newspapers still essential. 19:53 Generations' approach to climate change and policies. 24:33 Real estate troubles may lead to bank failures. 26:01 Trillion-dollar overnight withdrawal sparks fears of inflation. 31:17 Banks loosen commercial real estate loan standards. 33:06 Study suggests banks may be bankrupt soon. 38:58 Chinese economists see slower growth, but positive. 41:44 Western Europe, Japan, Russia, China, India challenges. You can anticipate a rich discussion, sharpening your understanding of the current economic landscape, unveiling the behind-the-scenes challenges of economic journalism, and broadening your perspective on the global economy. _____________________________________________________ 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/

Delve into the complexities of banking practices and financial challenges with expert insights on the 2008 financial crisis. Topics include banking mismatches, transparency issues, Lehman Brothers, and systemic risks. Gain nuanced understanding of financial crises and today's economic landscape.

Take the guesswork out of financial decisions at every stage of life with Maxifi: ⁠⁠⁠⁠⁠⁠⁠https://maxifiplanner.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Designed by Economist Laurence Kotlikoff. In this captivating episode of EM, we are honored to have Pulitzer Prize-winning journalist and esteemed author, David Cay Johnston, join hosts Laurence Kotlikoff and Alex Kotlikoff for an in-depth exploration of American democracy and the economic impact of political power. David's investigative prowess and authorship of critically-acclaimed books, including "The Making of Donald Trump" and "The Big Cheat," provide him with authoritative insights into the intersection of economics, politics, and the American legal system. Topics Covered: 1. The State of Democracy: We probe into David’s concern about the erosion of democratic institutions and the implications for the U.S. political landscape. Johnston’s examination of the potential dangers of one-party rule and extreme viewpoints offers a sobering look at the current threats to democratic traditions. 2. Political Accountability and Economic Impact: Our discussion transitions to the ethical and financial ramifications of political behavior, with David Cay Johnston sharing his research on the Trump administration's business dealings, legislative outcomes, and the worrying patterns of monetizing political positions. 3. Future of American Politics: David and our hosts contemplate the prospects of democracy amidst the shifting grounds of political allegiance and the vitality of centrist issues. Johnston provides a critical forecast on Trump’s future influence and the possibility of emerging leaders in U.S. politics. 4. Media, Investigation, and Truth: This segment delves into David Kay Johnston's critique of media practices in investigating public figures and how a diligent pursuit of the truth is essential for an informed electorate. His first-hand experience with investigative journalism underscores the session’s emphasis on fact-based discourse. Listeners will emerge from this episode more informed about the intricate dynamics of politics, wealth, and power, appreciating the vital role of responsible media in upholding democratic values. The dialogue is certain to stimulate both thought and discussion on the importance of transparency and legal integrity in the functioning of society. _____________________________________________________ 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 engages with the esteemed Robert Akerlof, Associate Professor of Economics at the University of Warwick. A voice of authority in his field, Akerlof specializes in the confluence of sociology and economics, focusing on how moral considerations and social interactions influence preferences and behaviors within organizations. His work has vital implications for understanding economic behavior through a nuanced and interdisciplinary lens. Topics Covered: 1. The Balance of Peer Influence 2. Resolving Cultural Clashes 3. Economic Perspectives on Society 4. Addressing South Korea's Fertility Crisis Time Stamps: 00:00 People are guided by beliefs, stories motivate actions. 10:33 Microsoft fostered individualism, causing internal competition and anger. 16:23 Social norms act as adaptable, subtle programming. 19:18 Conflict can be modeled as relatively rational. 27:06 Values affect self and peer esteem interactions. 30:51 Improving social life and educational culture in schools. 38:22 Defining reasonable person and its application. 42:07 Mediating conflicts through cultural commonality and justice. 46:22 Prime-age men without work, family, esteem. 51:18 Traditional and modern family dynamics and labor. 59:59 Career first, marriage last, impacting fertility. _____________________________________________________ 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 sits down with an exceptional guest, Ron Surz. Delving into a wealth of experience, Ron's career has seen him transitioning from an engineer at Northrop to an esteemed pension fund consultant at A.G. Becker. Today, he stands as the president of Target Date Solutions and co-host of the Baby Boomer Investing Show. With a strong foothold in the investment industry, Ron Surz stands as a voice of authority, particularly in the space of retirement planning and target date funds. You will benefit from Ron's nuanced take on contemporary investment mechanisms, the merit of true diversification, and holistic approaches to retirement savings. The insights offered in this episode are critical not only for those nearing the twilight of their careers but for any individual looking to navigate the turbid waters of financial planning with clarity and foresight. Talking Points: The Philosphy and Efficacy of Target Date Funds Investment Strategies and The Retirement Risk Zone The Future of Retirement Planning The Legal and Structural Overhaul of the Industry Time Stamps: 00:00 15 years for portfolio, minimal chance of loss. 10:36 Pension Act of 2006 prompted investment alternatives. 11:33 New personalized target data account software available. 19:23 Target date funds lack proper investment theory. 26:06 Economist: Adjust spending based on comprehensive assessment. 29:09 Comparing target date funds to full-risk investing. 36:54 Financial decision-making over time and risk. 42:31 Buy Money Magic for better financial life. 44:26 Manage risk by adjusting investment and spending. 51:55 Zavi's idea: safe investment with upside potential. 59:03 Fiduciary mindset on consultants choosing target funds. 01:01:39 Ensure safety in investments for older adults. 01:06:06 Congress drama of action masks Social Security deficit. _____________________________________________________ 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. **Note this episode was recorded prior to the October 6th attacks in Israel, and the current Israeli-Palestinian conflict.** Professor Kotlikoff sits down with the illustrious Eytan Sheshinski, an esteemed economist renowned for his incisive analysis of public economics and policy formulation. Professor Sheshinski's storied career lends him exceptional authority; he has been a prolific contributor to the field of economics, with prodigious work on the theory of taxation and the economics of natural resources. Serving as an economic advisor to various governments and institutions, his insights are invaluable to understanding the complexities of modern economies. Throughout the episode, Sheshinski and Kotlikoff navigate through an array of pressing topics, including: The political volatility in Israel and its economic ramifications The complexities of Israel's military and educational exemptions for the ultra-orthodox community The debate surrounding judicial reform within Israel An intricate look at Israel's foreign relations This discussion promises to elucidate the delicate junction of economics and politics, providing you with a deeper appreciation of the intricate balance required for sustainable development and the maintenance of democratic principles. Time Stamps: 05:00 Netanyahu faces trial, rumors of plea deal. 09:45 Key witnesses testify against Netanyahu on misconduct. 13:43 He ran successful coalition with slim majority. 14:42 Rising extreme right in Israel, election trend. 19:45 Israel protests judicial reform, demands military action. 21:33 Netanyahu, opposition in negotiations, President may intervene. 25:55 Orthodox schooling lacks core subjects, faces scrutiny. 28:45 Israel's reserve duty leads to conflict. 31:41 Israeli coalition determined by stance on settlements. 35:32 Creating Palestinian state with Israeli settlements challenge. 38:31 Biden and Netanyahu's strained relationship, US support. 41:43 Israel dominates air, attacks Iranian supplies successfully. __________________________________________________________ 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/⁠⁠⁠