tag:blogger.com,1999:blog-102152262009-02-21T06:27:49.113-05:00Welcome to the <a href="http://www.mynippon.com/social-security-privatization/">Social Security Privatization</a> news center discussing impact on personal finance, retirement planning, saving, taxes, & money management. Start with <a href="http://www.mynippon.com/social-security-privatization.htm">list of articles</a> or simply <a href="http://www.mynippon.com/search.htm">search</a>.eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comBlogger78125tag:blogger.com,1999:blog-10215226.post-1116349475863127382005-05-17T12:54:00.000-04:002005-05-17T13:04:35.873-04:00

Why so many Americans oppose the President’s Social Security proposals despite the fact that most Americans understand that the program faces financial challenges long term and that some changes may be needed? According to a suvey by Harris Interactive, the main reason is that plurality of U.S. adults believe he wants to dismantle Social Security; not save and strengthen it. After Bush's lies

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1114458995712630762005-04-25T15:46:00.000-04:002005-04-25T15:56:35.716-04:00

Let's face it, most of us would rather do just about anything than work on our retirement plans. But the reality is, if everyone does not take it on as a personal priority, it will never get done. I can't stress enough how important it is for all Americans to begin planning today for their financial futures, making sure they will have enough retirement income to last as long as they do. There are

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1114201208116700752005-04-22T16:11:00.000-04:002005-04-22T16:44:38.196-04:00

The current debate over privatization of Social Security -- whether or not individual accounts are added to the program -- demonstrates the acute need for improving financial literacy in the United States, according to Dallas Salisbury, president of the Employee Benefit Research Institute (EBRI)."Unfortunately, no matter how you look at the statistics, the bottom lines are the same: Financial

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1113418943354231862005-04-13T14:43:00.000-04:002005-04-18T16:42:55.426-04:00

The Social Security privatization debate may be headed for a close and the Bush administration is probably looking for an exit strategy, but there was a positive side to it. It created tremendous awareness about retirement planning. Here are some tips on how to be better prepared for retirement.Save more. The United States ranks last among industrial nations in our savings rate. The federal

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1112023101569011332005-03-28T09:59:00.000-05:002005-03-28T10:18:21.576-05:00

So when we are concerned and worried, what do Americans do? They go party or tune in to see what Michael Jackson is up to. But should we not be dealing with the issue instead and figure out a solution? Well, it is hard to do so, particularly when it comes to saving and planning for retirement. (Related article: Retirement planning tips for baby boomers)According to a survey by the National

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1111768864244954222005-03-25T11:22:00.000-05:002005-03-25T11:41:04.253-05:00

We were shocked a few weeks ago when some polls showed that younger Americans were supporting creation of personal retirement accounts. In fact, our financial advisor was advising all Americans of all ages to stay away from personal retirement accounts since there was no net gain for even younger Americans. Latest research from Yale University further confirms that all Americans, including those

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1111688170450817542005-03-24T13:03:00.000-05:002005-03-24T13:16:10.456-05:00

As national discussion rages over Social Security reform, Wall Street is at odds on whether the creation of personal retirement accounts would be a boon to the securities industry or a non-event. There is also a theory that somehow Social Security privatization will help the financial services industry (which has contributed millions of dollars in campaign contributions to President Bush and the

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1111682171553161212005-03-24T11:26:00.000-05:002005-03-24T11:36:11.566-05:00

Workers who opt to invest in the personal retirement accounts outlined in President Bush's Social Security privatization plan are likely to earn less to retire on than those who stay in the traditional system, according to a new study by Yale University economist Robert J. Shiller. The research finds that on the date of retirement, the personal accounts would have negative values 71 percent of

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1111595689238975662005-03-23T11:18:00.000-05:002005-03-23T11:34:49.246-05:00

A panel of behavioral finance, economics, tax, and capital markets experts gathered recently to discuss a range of issues facing investors, including privatization of Social Security, tax reform, the national deficit, single stock concentration, capital markets performance, inflation, retirement readiness, and other personal finance issues. The panel was moderated by noted personal finance

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1111417194667994852005-03-21T09:36:00.000-05:002005-03-21T09:59:54.693-05:00

Baby Boomers have different investment needs depending on their "retirement savings profile," but share some common regrets when it comes to money: they are uneasy about the extent to which they have saved for retirement. Despite this -- and the fact that most will carry debt into retirement -- they have expectations of a comfortable lifestyle in retirement. These are some of the key findings

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1111371078968176752005-03-20T21:00:00.000-05:002005-03-20T21:11:19.043-05:00

Many Boomers are unrealistic about the real cost of living in retirement and how their plans to exit the workforce will mesh with their savings plans. For example, Boomers appear to be underestimating the impact that debt will have on their retirement, especially as many expect to enter retirement owing more than previous generations. Higher costs of living driven by more expensive homes,

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1111157118802878942005-03-18T09:36:00.000-05:002005-03-18T09:45:18.810-05:00

The MetLife Mature Market Institute Demographic Profile of Americans 65+ shows an aging population of 36 million people, some with few assets and relatively low income; 10% live below the poverty line. The publication reports the segment of the population between 65 and 69 has a median net worth of just $114,000, including the equity in their homes, but $27,588 without it. For those between 65

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1110983635864479272005-03-16T09:25:00.000-05:002005-03-16T09:33:55.866-05:00

In the near future you will not only be bombarded by sales pitches from supporters of Social Security privatization (through advertisements, town hall meetings, phone calls, etc.) but you will also hear a lot about polls. Unfortunately, these polls can be very misleading depending on who is behind them (and to find that out is a difficult task these days since many so-called supporters and

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1110899566031268942005-03-15T10:00:00.000-05:002005-03-15T10:12:46.040-05:00

The recently completed OppenheimerFunds Investing for Retirement Survey demonstrates the value of professional advice for Baby Boomers. Investors who use an advisor benefit from their expertise and guidance, while for those surveyed who do not, an advisor could help get them started on the right track. (Related article: Americans need retirement planning help)"Our study points to the need for

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1110898012654962662005-03-15T09:35:00.000-05:002005-03-15T09:46:52.663-05:00

Americans are definitely smarter than what President Bush thinks of them. While they have clearly indicated that they do not like his version of privatization of Social Security or personal retirement accounts, they understand what is happening to the economy and where they stand. In a survey by Principal Financial Group, when workers were asked to weigh in on current domestic initiatives being

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1110555584353264752005-03-11T10:29:00.000-05:002005-03-11T10:39:44.360-05:00

Since President Bush began his marketing campaign to convince American people that there is a crisis in the Social Security (Related article: The crisis found to be a made-up story to sell the personal retirement accounts), he has used all tricks available to him. Interestingly enough, American people are not buying any of his stories. While retirement planning and personal finance should not

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1110554727316797812005-03-11T10:06:00.000-05:002005-03-11T10:25:27.323-05:00

As the President travels around the country talking up his plan to privatize Social Security, he remains noticeably silent on the two issues that matter most to people: how deeply will private accounts require benefits to be cut, and where will the money to privatize come from? The proposals of his hand-picked privatization Commission, which he says he's using as his model, give us a glimpse of

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1110501444797324732005-03-10T19:26:00.000-05:002005-03-10T19:37:24.806-05:00

So it is becoming clear day by day that President Bush has been trying to create a phony "crisis" in the Social Security, more or less on the lines of weapons of mass destruction (WMD) crisis in Iraq. In fact, since Bush has failed miserably, now he is asking Vice President Cheney to help out. But it seems that there is only so much spin possible. American people have made up their minds and can

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1110394546311264802005-03-09T13:43:00.000-05:002005-03-09T13:55:46.326-05:00

The long-kept secret of the empty Social Security trust fund is no longer a secret, says economist Allen W. Smith who has been trying to alert the public to the trust fund fraud for the past five years. Smith, the author of "The Looting of Social Security: How The Government Is Draining America's Retirement Account," first stumbled onto the fraudulent way Social Security contributions were being

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1110212895608408162005-03-07T11:12:00.000-05:002005-03-07T11:28:15.623-05:00

As of today, here are some facts about privatizing Social Security:The current proposals do nothing to ensure solvency of Social Security.The privatization plan is apparently so risky that President Bush does not want anyone over 55 to be part of it. There are fears that these folks will immediately slide into poverty. (Related article: Will baby boomers be hurt by privatization?)No one really

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1109895672201002382005-03-03T19:09:00.000-05:002005-03-03T19:21:12.210-05:00

While it should be simple to define what a tax increase is, in the United States where taxes are as evil as North Korea, even raising the wage cap for Social Security contributions counts as an increase in taxes. While Americans overwhelmingly support this solution to ensuring the solvency of Social Security, this is the least disliked by President Bush because it hurts the top 2% of Americans

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1109861334426846762005-03-03T09:40:00.000-05:002005-03-03T09:48:54.433-05:00

While a majority of Americans now opposes President Bush's plan for privatizing Social Security by creating private retirement accounts, those who do support them do it not because it will make the program any better but do it for more selfish reasons: it will give them more control over their money. (Related article: What is an ownership society?)Another interesting finding from the latest Pew

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1109714745348062642005-03-01T16:49:00.000-05:002005-03-01T17:05:45.353-05:00

A question that is being asked is how a president that was supposedly elected with popular support is so unpopular on the question of privatization of Social Security. As Chris Rock joked on Oscar Night, a president who dragged America into a war with a made-up story about weapons of mass destruction and literally emptied America's wallet again on a made-up story about preventing a severe

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1109627739237553812005-02-28T16:37:00.000-05:002005-02-28T16:55:39.246-05:00

"When the going gets tough, the tough change the rationale." With the privatization of Social Security, like the Iraq war, the rationale has been changing on a daily basis but there are reports that Americans are buying none of it this time. In fact, as ad dollars get pumped by conservative groups, the effect is actually negative. The more President Bush has campaigned the less Americans like his

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.comtag:blogger.com,1999:blog-10215226.post-1109276612577319582005-02-24T15:08:00.000-05:002005-02-24T15:23:32.583-05:00

When MoveOn recently used a "working retirement" TV commercial, they were attacking President Bush's plan for privatization of Social Security. The group was widely criticized by conservative supporters of Bush's proposal but a recent study shows that MoveOn is probably right, at least to the extent that Americans do want a "working retirement." In a survey by Merrill Lynch, baby boomers are not

eCreativa Mediahttp://www.blogger.com/profile/10808357733900942195noreply@blogger.com