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Search resuls for: "Laurence J. Kotlikoff"


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☆ Economist: This is the No. 1 best and worst money I ever spent
  + stars: | 2023-09-06 | by ( Laurence J. Kotlikoff | ) www.cnbc.com   time to read: 1 min
My goal has always been to make the subject as accessible as possible for everyone, on both a personal and global level. One of the biggest lessons I share with my students — and people who ask me for personal finance tips — is that not all money we spend has to produce an immediate return on investment. Some purchases are just meant to make you happy, and that's okay. On the other hand, no matter how well you plan, even the most well-reasoned, well-intentioned choices can turn out to be more financial trouble than they are worth. To that end, here is the best and worst money I ever spent:
Persons: I've
☆ Why Mark Cuban keeps working, even though he wanted to retire at 35: ‘I’m too competitive’
  + stars: | 2022-09-25 | by ( Megan Sauer | ) www.cnbc.com   time to read: +3 min
Almost four decades ago, a 25-year-old Mark Cuban had a goal: He wanted to retire within 10 years. "I'm too competitive," Cuban said, adding that this mindset it exactly what's propelled him to a long and successful career. "I wanted to retire by the time I was 35, and so that drove the decisions that I made." Nearly two-thirds of people from ages 57 to 66 retire early, even though the average wealth for that age bracket is $144,000. "If I'm 25 and I'm doing this again, I'm probably [thinking], 'Okay, what can I do to get acquired?'"
☆ A Harvard-trained economist says 'early retirement is one of the worst money mistakes'—here's why you'll 'regret' it
  + stars: | 2022-02-01 | by ( Laurence J. Kotlikoff | ) www.cnbc.com   time to read: +4 min
So, I'll be blunt: For most Americans, early retirement isn't just a decision to take the longest vacation of their lives — it's one of the biggest money mistakes that they will regret. The reason is simple: We are, as a group, lousy savers, making early retirement unaffordable. According to a Boston College Center for Retirement Research report, half of today's working families risk a major living standard decline in retirement. Still, almost two-thirds of people — between ages 57 and 66 — choose to retire early out their own volition, despite having saved next to nothing. If she continues to do so, her post-retirement living standard will be half her pre-retirement living standard!
☆ A Harvard-trained economist shares his top 21 money rules: 'Own your home' and 'try to buy in cash'
  + stars: | 2022-01-05 | by ( Laurence J. Kotlikoff | ) www.cnbc.com   time to read: +8 min
Having more of your money packed in your home is a way to shelter it from federal and state asset-income taxation. As an economist, here are the top 21 money rules that I live by and teach:For sure, they won't all just stick in your brain. Or it may be someplace with no state income tax, no state estate tax, and no state inheritance tax. Or, in other words, don't put more money into the stock market until your initial bets are safe from losses. Laurence J. Kotlikoff is an economics professor and the author of "Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life."
Persons: —, It's, Sam, I've, they'll, you've, Laurence J, Kotlikoff Organizations: Social, Security, Social Security, Harvard University, New York Times, Bloomberg, The Financial Times, Twitter Locations: New Hampshire, Massachusetts
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