Get Whats Yours: The Secrets to Maxing Out Your Social Security by Laurence J. KotlikoffLearn the secrets to maximizing your Social Security benefits and earn up to thousands of dollars more each year with expert advice that you cant get anywhere else.
Want to know how to navigate the forbidding maze of Social Security and emerge with the highest possible benefits? You could try reading all 2,728 rules of the Social Security system (and the thousands of explanations of these rules), but Kotlikoff, Moeller, and Solman explain Social Security benefits in an easy to understand and user-friendly style. What you dont know can seriously hurt you: wrong decisions about which Social Security benefits to apply for cost some individual retirees tens of thousands of dollars in lost income every year.
How many retirees or those nearing retirement know about such Social Security options as file and suspend (apply for benefits and then dont take them)? Or start stop start (start benefits, stop them, then re-start them)? Or just as important when and how to use these techniques? Get Whats Yours covers the most frequent benefit scenarios faced by married retired couples, by divorced retirees, by widows and widowers, among others. It explains what to do if youre a retired parent of dependent children, disabled, or an eligible beneficiary who continues to work, and how to plan wisely before retirement. It addresses the tax consequences of your choices, as well as the financial implications for other investments.
Many personal finance books briefly address Social Security, but none offers the thorough, authoritative, yet conversational analysis found here. Youve paid all your working life for these benefits. Now, get whats yours.
Kotlikoff, who coauthored a book warning the baby boomers were going to bankrupt the nation , now producing one telling them how to do just that. Full disclosure: Kotlikoff is a long time contributor to Forbes , as well as a source for my own Social Security and financial planning stories. Do you really need to read a whole book to get Social Security right? Not necessarily. But one of the biggest retirement mistakes you can make is thinking you understand more about Social Security than you do. But it does.
ET Tuesday! Register now. This updated edition offers clear guidance on when to claim benefits, how much you can expect to receive, where to find Social Security calculators, and so much more. Since its inception in the s, workers across the United States have set aside a portion of their wages to fund the Social Security Administration. For many, Social Security forms the foundation for their retirement income. Social Security Administration.
With the number of older Americans filing for bankruptcy on the rise , here are three books to help you understand retirement and what is driving the Social Security debate. One details the scope of the issues, while another guides readers on how to maximize their benefits. Plus, a satirical novel imagines a wacky Social Security based scenario. Peterson pp. Farrar, Straus and Giroux. In this book, Mr. Kotlikoff, Philip Moeller and Paul Solman pp.
All of them have been very concerned that they maximize their income stream. If you look at the data you can see why. This is a program that needs to be understood. Thankfully, there are some fantastic books out there that break this down and make it easier to understand. Today I want to tell you what my top 5 books on social security are. These two books will help you build a foundation for the slightly heavier reading to follow. The good part is they are both around pages so you can read these quickly and then read them again to really lay the foundation.