Saving Social Security
Episode Description
Social Security’s long-term prognosis is grim, and every solution that’s been suggested has been deeply unpopular with one faction or another. But Wharton’s Olivia Mitchell has found a partial remedy she says will be hard to dislike. More: http://knlg.net/1VA9PzQ 📂 Finance & Accounting 🏷️ Research
Brief Summary
Olivia Mitchell discusses a new revenue-neutral solution for Social Security that incentivizes delaying claims through lump-sum payments.
Key points
- Innovative Solutions for Social Security. Olivia Mitchell presents a revenue-neutral solution to Social Security funding issues.
- The Appeal of Lump Sum Payments. Research shows people prefer lump sums over monthly payments for delayed Social Security benefits.
- The Flawed Break-Even Approach. Mitchell critiques the common break-even approach used by financial advisers regarding Social Security.
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Episode highlights
- Innovative Solutions for Social SecurityOlivia Mitchell presents a revenue-neutral solution to Social Security funding issues.“There’s another solution out there which is revenue neutral.”1:11Feb 25, 2016
- The Appeal of Lump Sum PaymentsResearch shows people prefer lump sums over monthly payments for delayed Social Security benefits.“People like this idea in our experimental survey.”2:36Feb 25, 2016
- The Flawed Break-Even ApproachMitchell critiques the common break-even approach used by financial advisers regarding Social Security.“The break-even approach is extremely misleading.”7:20Feb 25, 2016
Tension
40/ 100Low tension
