Last week I wrote about the way age differences can play an important role in thinking about the timing of Social Security old age benefit claims. Specifically, spouses need to take into account two separate variables: the increase in the primary worker's old age benefit by delaying their old age benefit between ages 62 and 70, and the increase in the spouse's benefit by … [Read more...] about Unreduced Social Security spousal and dependent benefits and the family maximum
The spooky effects of age differences on Social Security benefits
Become a Patron! I was skimming one of the interminable posts over at Michael Kitces's Nerd's Eye View blog by Jeff Levine and was struck by his description of a very strange feature of the Social Security spousal benefit calculation. To spare you from trudging through the post, there are three curious features of Social Security benefits to consider: A worker's old age … [Read more...] about The spooky effects of age differences on Social Security benefits
Modern economic growth (and personal finance)
Become a Patron! I've recently started listening to a podcast about economic history called, fittingly, The Economic History Podcast, and the last episode on the "Great Divergence" was so interesting it ended up rattling around my head for a few days, and I thought I'd share a few thoughts. What makes modern economic growth "modern?" In the (excellent) public schools I … [Read more...] about Modern economic growth (and personal finance)
Cheap lessons
Become a Patron! One of my favorite concepts to tell people about is "affordable luxuries," the things that barely make a dent in your bank account but immediately spark joy: cheap candles, nice towels, or a new filter in your refrigerator. There are times when spending a lot of money will make you a lot happier, and there are times when spending just a buck or two will make … [Read more...] about Cheap lessons
Personal finance during the plague: the lean months
Become a Patron! A stylized fact about the course of the current pandemic is that while the economic impact was swift and severe, the effect on personal finances was muted by the rapid federal deployment of direct cash aid, in the form of "stimulus checks," expanded and extended unemployment insurance payments, and Paycheck Protection Program and Economic Injury Disaster … [Read more...] about Personal finance during the plague: the lean months