Larry's Substack Articles

Substack articles on various topics by Larry Kotlikoff

The Cost of Charitable Giving Via QCDs May Be Much Lower than You Think
Last year Americans contributed close to $600 billion to charity. That’s both a lot and a little. It’s more than the GDP of 85 percent of the 195 countries ...
Fri, 19 Dec, 2025 at 9:18 AM
Why Delaying Your Social Security Benefits Almost Always Makes Total Sense
Derek Tharp is an associate professor of finance at the University of Southern Maine, the founder of Conscious Capital and head of innovation at Income Lab....
Fri, 19 Dec, 2025 at 9:15 AM
Is Wall Street Meeting the SEC's Rule (Reg BI) to Act in the Retail Investor's Best Interest?
Tens of millions of American households rely on the financial industry to provide investment and related financial advice that is in their best interest. Th...
Fri, 19 Dec, 2025 at 9:12 AM
The MaxiFi Puzzler -- 11-1-25
Forty-year-old Jerry lives in New Mexico. Jerry’s single. But he’s dating an AI bot named Techninny. He loves her or them. But Jerry knows Techninny’s tende...
Fri, 19 Dec, 2025 at 9:10 AM
Are AI Valuations a Huge Bubble?
As you likely already know, the reason the market’s been booming is that the valuations of the 10 largest AI companies, including Nvidia, have skyrocketed t...
Fri, 19 Dec, 2025 at 9:09 AM
Another Awful WSJ Personal Finance Article -- This One on TIPS
Today’s focus is on an article by Derek Horstmeyer, entitled “Inflation-Protected Bonds Fail a Key Test: They Don’t Help When Inflation Is High.” Professor ...
Fri, 19 Dec, 2025 at 9:05 AM
How to Invest? Let Economics, Not Wall Street, Be Your Guide
We all know that starving is far worse than gorging. The former kills you. The latter gives you gas. That’s why few of us choose to go hungry or eat 76 hotd...
Fri, 19 Dec, 2025 at 9:00 AM
Are Life-Cycle Funds Too Risky and Expensive?
The 2006 Pension Protection Act (PPA) allowed lifecycle, aka target-date funds, to serve as a “qualified default investment alternative,” permitting employe...
Thu, 18 Dec, 2025 at 4:25 PM
This Is Not Your Grandfather's Investment Advice
These are tough times for investors in risky assets. No matter the asset class, there’s a nightmare lurking. As any squirrel will tell you, running out of a...
Thu, 18 Dec, 2025 at 4:22 PM
Upside Investing -- Invest At Risk Without Risking Your Base Living Standard
I've gambled at casinos twice. Each time I left my credit cards in the hotel room and took $100 in cash. This was the maximum I was prepared to lose doi...
Thu, 18 Dec, 2025 at 4:23 PM