Kiplinger's Kim Lankford discusses Social Security
Fri, 11 May 2012|
Kim Lankford from Kiplinger discusses Social Security.
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Tami Luhby, CNN MoneyTami Luhby, CNN Money
out there. All my family is out and Antarctica there in -- hockey players all these Bruins players that you love -- -- where you think they're from either from you figure from Massachusetts. What -- -- the American players on the crossed amber is here now so why. Why did you leave. My dad a transfer okay Kampman you'd still be their -- guys that are not facts you'd go back tomorrow -- if you. The problem is I'm not a good enough occupier he it to be. Saskatchewan. Produces more hockey players per capita than any other place in the world to -- a -- paid attention the past couple weeks. But supposedly the number one hockey player in the world it turns out. He's not that Iraqi player you know he is that it is just that the other Canadian playing against -- is a better player. -- birdie is a better player than Sidney Crosby . When he doing and you look at the game of hockey -- get ready looks at the offensive side of hockey chemicals that yet now it's a two -- game you gotta be of the play defense Sidney Crosby can't play defense he sucks and the defense he's he's he's a wimp. And he doesn't play. That's an uncle Chris Chelios . Give me a belt made him but he running each. Is. Like rich rich this is embarrassing to to stop that knowing that Jack and Roenick now. Wage on the island -- got your -- -- these. Players I sound yet I've actually her -- The hall of famers I mean it the best like Bobby or he's from Canada and -- now he's from Saskatchewan. Wayne Gretzky he's from -- In isolating it like that's your national sport that you didn't see any baseball players made it in the -
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
right now are taking a look at the waterfront -- the new real estate option. Then moving to a different officers bank put you know they want to establish -- -- exciting new abandoned building and so. The seaports and interest and opportunity that drawing a lot of companies trying to. Why I think I like the financial district to that what's the big attraction of the seaport area you name it may be a mess it's. Poll. It's cheap and it's that's the main thing is that you know right up there looking around at look at okay -- and I moved to and another office building downtown and I stay put. You know that the currently rate or should I mean he moved to the seaport there's a -
Shawn Kravetz, Esplanade Capital
Shawn Kravetz, Esplanade Capital
been and then. We'd like to buy the whole company and then negotiated transaction . Do you own any shares in the company now. We do we heard the second largest outside shareholder. The family owns roughly 90%. Of this company. DE Shaw. Very very large hedge fund in New York City is the largest outside shareholder and we are number two. Why panel why they're why they hesitating to solitude they must feel that the shares are worth Maurizio I think I can conclude. Well. I don't wanna speak for them but I suspect you're right on the money. They had no idea that and they know there's a lot of value there. And I guess they're confident that someday they will get that we would like to help shareholders get that values sooner rather than later. Because. We thought the assets -- well. You made the statement that you feel the -
What's Up On Wall Street - Andy Cinko, Bloomberg News
What's Up On Wall Street - Andy Cinko, Bloomberg News
we asked a question of the day which had to do with Social Security And collect your Social Security for retirement age or are you going to collect literally. 73%. Of Americans collect their Social Security early in the vast majority of cases I think that's a mistake but people do it for any reasons. When I came up with June and I think is a good idea for us to talk about is you know we're sitting here and and and acting all high and mighty. As it relates to this discussion about Social Security in the back the matter is we have access to tremendous resources on this topic whether the courts are now ski. Who worked for the departments of security for 37 years or whether it's Chris Farrell was a reporter for Bloomberg we have access to a lot of data. What I would like to do is make this information on Social Security Tips to maximizing -- worst Social Security benefits I'd like to make it available to our listening. I think it's they I think it's important. You know people refer to it I think some 97 -- as areas of securities of Ponzi scheme this. I disagree with you respectfully -- disagree with you but you know -- more importantly. Please educate yourself on Social Security Call this phone number it's 508591. 5444. Asked for the guide about Social Security tell the I would pay -- wanna learn more about Social Security Barry seems to know a lot you know why I read a -- I studied this stuff every day it's what I do for a living. 5085915444. Is the number you should call. Call them. Tell -- you're listening to the financial exchange and you want to learn more about how he can maximize your benefits. Out of Social Security I think you'll be glad you made the call I know I was glad when I read the report on Social Security Maybe a more informed consumer. 5085915444. Up next Sean Kravitz he's the president of a hedge fund. That has been trying for
Automatically Generated Transcript (may not be 100% accurate)
You know I've been hesitating -- all morning long about the stock market because that JPMorgan Chase story would what do they do with the market of. It is up like a roller coaster Dow up 25 points NASDAQ up nineteen S&P 500 up three Big Ten year US one point 853 gold still down only 550. Oil trading down 103. It's at 9605. A little bit of a recovery here bury what's going on. IE I wish I knew I got -- 15200. Points evidently it's shrugging -- put in Larry Kudlow did say. It wasn't a big deal out there they're still gonna make like four billion bucks OK I think I'd. -- consumer sentiment. Is at its highest level in over four years really are right the latest figures from Thomson Reuters and the university Michigan at Michigan sentiment. A show the overall index rose by nearly a point and a half for May. Despite lower forecast how your confidence -- -- compare yourself to last few years you feel better I feel a little bit better but it's not as good as it was back in you know close it's Olson announced so far. Our our guest is Kim Lankford from kip Winger magazine -- good morning howry. Good morning thanks for having me. Kim I remember the good old days once a year it used to be right around my birthday bakery in the month may be proceeding my birthday. I used to get a statement from the Social Security Administration. And who tell me how much I paid in. It during my whole life and how much I was gonna get when I retired when it went in when did that stop. I love it here and he had discovered that it really did cost a lot of money to -- a statement about everybody in this young people I mean. Take a quick look at it -- -- they really pay attention and so in order to try to save money. About this time last year that it's stopped sending out this statement that we want yeah well there was a big backlash he had done especially people who are getting -- -- Social Security -- Wanted to be sure to get their statement so they kind of revive stare out. They're -- on a just in the last few months and February. -- figured -- be doomed mailing keepers statement after the people who are sixty and older. Obviously there are not receiving Social Security benefit. Still it's for the folks who are really in the heat I'd just figuring out when to take their benefits and things like back. I'm they also later this year going to mail Paper statement to people in the years that they reach age twenty I could get them kind of kick started you know Jack and realized that. You know now you're probably didn't pay into the system for a little bit. What do you expect in the future. But only only 125 they're not gonna get him every year right. That's correct it's almost they welcome to the Social Security stepped -- tight spot. I typed letter -- Download that now just starting to take every line everyone can get their Social Security statement on the. I went and did yesterday got to tell you about my experience look I've been because I I read your article and I clicked on the link. And it brought me right to the the website where you can go through the enrollment process to get your statement. And you're right the statement looks exactly like the old ones that used to get in the mail. I really liked it I really like the idea that it pretty easy to get it did you -- -- The world that federal security questions which I really liked the feel people are worried about ID theft and the information online. Public into thinking is asking them questions that. He'll only Social Security would know about it. And then a little. Your administration also partnered with -- experience. On to be able to get -- just information -- your credit for and not really complicated that you don't have to be looking at your credit reports. In order to enter them practically to ask questions like who -- your mortgage your little Jakarta while. Or ask questions like -- who holds your. Home equity line of credit when you hear me how going to do he had done and thank you use I won't even with the reader that's the old -- I don't have access to my yeah. My credit reports and not -- and I think he's just a few extra security questions got a good yeah yeah yeah whenever you want the. Like Tim here's my criticism of that right they ask you all the security questions break in I didn't write them down. So now the next time I go they're gonna ask me the same questions and on and forget you know that that happens all the time that he. You know I and all they accurate count towards street number all -- it yet. I can't remember my -- past Republican or remember my Social Security so you know it's gonna happen is a year from now on gonna try to go on that website and get my statement and it's gonna block me out -- say no. Hopefully -- -- the thing what I when I went through and get that I could really kind of reboot the types of questions they asked a lot of questions I think him off the top here like let your mortgage. He has done and you wanted to looked it up but it will prevent someone you would have to ask information from you it's such a wide variety of different but just. I'm in order to -- And -- password it that pass service to party had to have an upper case letter. Then you had that some numbers and then you had to have some other kind of sign a symbol it was a very it that that's gonna screw a lot of people up -- -- I think you should file a complaint with -- It's difficult balance because they wanna make it very very difficult to try to keep getting in their because of the IDC Patrick -- obscurity information. Then yelled that's that's kind of -- their tickets -- luck to get a lot of staked out. It would be I'd be happy with the security enhanced -- to either of being able to get and it wasn't too many questions like that'll be interesting next year. Span of one really speak and reader asked you doubt that this scandal now cannot and Paper statement to how do you make sure that if that Social Security accurate accurate earnings per year. Stand I recommend you know even though people aren't getting their statements this here these are in the aren't going to be getting this statement that goes around their -- and like you expect kind of what we were getting the right now. I just don't expect that what they've got it accurate and the cool thing that they've got all the information there about how to contact Social Security -- to -- If you see any -- You're usually have to provide some tacked on tax return the tax forms for them just the terrified but sometimes it's also really like that -- showed you. Like you would be getting just like other statements that he would be getting up at least 62. Factor for retirement age which is 5667. Brought people come. Give him let me ask you the stuff from it yet you said -- start getting -- at sixty. FT turned sixty so. They keep it because I'm not gonna be able to get whenever again because I've already forgotten my password. I'll get one when I turned sixteen and then like get another one when I'm 61 -- they just get the one. I believe that you continue to get it until a -- sixty until you sign up for Social Security. -- can't stop and I believe it annually not 100% sure but that -- if he goes to at this stage that's got the black might statement that -- -- to go and that's freeing up all the information that the where you can sign up. They've got all the details there. Can't and it really interest and has to look back you know and he would you have earned all that your fuel accredited. But also those key numbers that it is -- -- because that he had no idea tiny things can change -- time but a general idea of what you might expect. Based on your average earnings so far in -- hand if you were to continue at your current salary. Until until. Retirement until you start it takes Social Security they'll keep in mind at those numbers can increase if you. You know if you're kind of early in your career than expected salary to go up a lot. But in general idea what -- hand it. Especially for those people as they are approaching sixty looking at those numbers helped them really make some key decisions about when to take those Social Security benefits. They did do what I -- him -- price on on the tip on your website you know people always ask I know they asked you when they should collect their social security and asked me the same question. The Wharton has this life expectancy study that I've been turning people want to take a look at it. I have not I mean this is the key question and so many more people are looking to the later Social Security to kind of create AM. I just give you a story idea check it out it's not like it's it and check it out it's light Wharton school you know the Wharton school that's right. In -- it just Google Wharton school life expectancy test it's a forty question test in ticket ten maybe fifteen minutes to finish it. And then next time here on I want you to tell me what your life expectancy is. Oh my goodness I hope it's not scary. Yeah I think it yet you didn't get good night June June as a matter of fact I'm not even sure she's gonna be back on Monday. Her like a sudden I'm. Not sure I think it 1988 dollars and him only didn't figure that old you look at. All right we had a run give thanks for your time.
