Americans- Living Rich, Retiring Poor with Professor Michael Granof скачать в хорошем качестве

Americans- Living Rich, Retiring Poor with Professor Michael Granof

"I'd like to start off with the good news — and this is about the only good news today. The good news is that you're going to be living longer than your parents or your grandparents," begins Michael Granof. "The question is, can you afford to? For most Americans, the answer is no." Granof, a professor of accounting at the McCombs School of Business with a joint appointment at the LBJ School of Public Affairs, spoke to a sold-out lecture hall at the AT&T Executive Education and Conference Center on March 26, 2014 as part of the Texas Enterprise Speaker Series. Now that the baby boomers are reaching retirement age, the United States draws closer to a retirement crisis. Simply put, the golden years that many Americans have expected may turn out to be more dross than gold.  Retirees may be facing a fiscal tsunami. They have saved far too little in their 401(k) plans to enable them to sustain the standard of living to which they have become accustomed.  The Social Security system, while not in as bad shape as some claim, is unlikely to increase benefits, at least not in the foreseeable future.  The pension plans of state and local governments are significantly underfunded.  Without significant reforms in our health care system that go beyond the Affordable Care Act, medical costs will most probably increase. The ratio of workers to retirees is certain to decrease thereby requiring that an increasing percentage of GDP be directed toward retirees.  We examine the myths and realities surrounding these trends and discuss how they will affect us as both current and future retirees and as taxpayers. Issues that will be addressed include? • Why 401(k) plans have not lived up to their promise • How best to reform public pension systems (and thereby avoid more municipal bankruptcies) • Can you (and your children) expect to receive promised Social Security payments • How reliable is government financial reporting with respect to pensions, Social Security and  Medicare