This is a solid, proven myth.  The only trouble Social Security is in is the same trouble it’s been in since before it was signed into law 84 years ago:  ignorant, malicious attacks by self-righteous ideologues. As quoted in Social Security Works: The most important takeaways from the 2019 Trustees Report are that (1) Social […]

I’ve always believed a universal fiduciary standard should exist for anyone who gives advice to others that can affect- and ruin -lives, whether it’s journalists, bankers, stock brokers, teachers or wedding planners.  I don’t know why the fiduciary focus is strictly on finances.  If you hold yourself out as an expert, you’d better not be […]

Yes, this is a solid, ridiculous myth.  Don’t step in it.  I feel sorry for Melanie Waddell, the ThinkAdvisor writer, that her editor capped an otherwise laudable article this way.  Here is her original piece. The Social Security program’s reserves will be depleted in 2035, with continuing income to the combined trust funds being sufficient […]

This headline precedes an extremely ignorant article by MarketWatch writer Marc Lichtenfield.  Ironically, only the first sentence is close to being true:  “You’re betting the insurance company that you’re going to live longer than they think you will”.  Yes, of course! But let me dissect this dangerouly stupid article line by line.  As if Wall […]

This is, of course, another false statement, a blazing myth.  In a recent study by the National Association of Insurance Commissioners (the enforcers of insurance regulations), the complaint ratio about fixed indexed annuities (EIAs) was 0.039%.  That’s about one-third of a tenth of a percent.* This is because retirees can see the handwriting on the […]