Entries by mbeals

11/4/2013 – Will Social Security run out of money? (MoneyWatch)

Social Security is not in financial trouble, at least not under the current laws that govern the retirement program. That’s the unequivocal answer from Steve Goss, chief actuary for the Social Security Administration, who spoke recently about Social Security’s funding challenges at the annual meeting of the Society of Actuaries in San Diego. Read the […]

10/31/2013 – Column: Can expanding Social Security solve the retirement crisis? (Reuters)

I asked a financial services executive recently how our retirement saving system can be considered a success, considering that all but the highest-income households are approaching retirement with next to nothing saved. His reply: “They don’t have any money while they’re working, so why would they have any money in retirement?” Read the full article […]

10/30/2013 – Arguments Over Social Security Pit Old Vs. Young (NPR)

Congress has until Jan. 15 to come up with another spending plan. As they negotiate, one thing you’ll hear a lot about is overhauling entitlement programs — particularly Social Security. The program accounts for about 20 percent of federal spending. One argument in favor of cuts is that Social Security amounts to a huge transfer […]