What do experts think of Democratic presidential nominee Joe Biden’s plan to reform Social Security?
In this Retirement Today video, Andrew Biggs, a resident scholar at the American Enterprise Institute and former principal deputy commissioner of the Social Security Administration; Michael Edesess, chief investment strategist of Compendium Finance, adjunct associate professor at the Hong Kong University of Science and Technology and a research associate of the Edhec-Risk Institute; Robert Huebscher, founder and CEO of Advisor Perspectives, discussed Biden’s Social Security reform plans.
In this video, Biggs discussed his recent commentary in the Wall Street Journal that, in essence, suggested that Biden’s plan falls short of the ideal. Read Urban Institute: An Analysis of Democratic presidential nominee Joe Biden’s Social Security Plans.
And Edesess also discussed his recent Advisor Perspectives’ article, The Fallacy of Rebalancing Revisited.
In that article, Edesess wrote the following: “Rebalancing should be dismissed as nothing but the poorly-examined conventional wisdom that it is – the plethora of articles in financial journals filled with largely irrelevant mathematics notwithstanding. The greatest damage done by this myth is that it helps to surround providers of financial advice with the aura of ‘knowing’ something that they do not know at all.”