“Life Insurance Is Profitable Again, but Too Late for Many Insurers,” by Leslie Scism, Wall Street Journal “The past 15 years has been a lousy time to sell life insurance. Higher interest rates driven by the Federal Reserve’s inflation-fighting campaign have given the industry a new chance to profit. … One result is fewer people have life insurance. Today just over half—52%—of American adults own life insurance, down from 63% in 2011, according to industry-funded research firm Limra. … It is no small matter because life insurers earn a substantial portion of their profits by investing premiums until the money is needed to pay claims. Low
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“Social Security and Medicare Reform,” by John C. Goodman, The Goodman Institute “According to the latest Trustees Report, the unfunded liability in Social Security and Medicare is $163 trillion – almost 7 times the size of our entire economy. An unfunded liability is the difference between benefits already provided by current law and the future tax revenues expected to pay for those benefits. In a sound retirement system, we would have $163 trillion in the bank, drawing interest. In fact, nothing is being saved. Instead, payroll tax dollars are being spent the very day they come in the door. To avert financial
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“The Growing Opportunity For Wealth Transfer; Not Only For The Wealthy,” by Hearts and Wallets, Advisor Magazine “Nearly two thirds of U.S. households are now involved in intergenerational wealth transfer with growth seen in both wealthy households and lower-asset households affected by the transition from defined benefit to defined contribution plans, according to a new research report by Hearts & Wallets, the independent research and benchmarking firm that specializes in saving, investing and financial advice. … Of the 129.4 million total U.S. households, 79 million (61%) have received, expect to receive, or leave an inheritance, up from 58 million (46%)
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