Want to know how to navigate the forbidding maze of social security and emerge with the highest possible benefits. He is author or coauthor of sixteen books, including spend til the. So benefit estimates made by the quick calculator are rough. Social security s labyrinth of 1,728 rules written in gobbledygook and riddled with. The revised secrets to maxing out your social security.
Boston university economics professor and author of get whats yours explains why millions of social security recipients arent getting what theyre entitled to. And they realized their book needed to be updated as soon. Essentially, the pia is the sum of three parts of your aime. Developed by social security expert laurence kotlikoff deciding which social security benefits to take and when to take them is one of the most important and complex decisions you must make. Try a social security calculator before claiming the balance. Can i file for social security retirement benefits at fra and spousal benefits later.
The authors of the book are laurence kotlikoff, a boston university. Most retirees get a third or more of retirement income from social security. We cant provide your actual benefit amount until you apply for benefits. By larry kotlikoff you may receive several conflicting estimates of your future benefits from social security. Calculate the best retirement age to claim your social security benefits. Larry kotlikoff is a professor of economics at boston university and the founder.
Maximize my social security was developed by boston university economics professor larry kotlikoff. Social security calculators provided by other companies or. To get whats yours from social security, dont plan on cutting any corners. How a book led to the end of some social security claiming. Here are the best places to answer your social security. Can you trust social securitys estimate of your benefits. Similarly, if you claim social security benefits in 2019, but turned 62 in a previous year, you would use that years bend points to calculate your pia and initial benefit amount. Mike piper is the author of the book social security made simple. Todays column addresses whether income after 62 is used to calculate benefit amounts, benefits for grandchildren, the effect on social security benefits of a survivor benefit based on a public. Comparing the 2 leading social security calculators can i retire. In the course of these studies, i realized two things. Find the top 100 most popular items in amazon books best sellers. Youve always known the decision about when, and how, to take social security benefits isnt easy. The calculation of your pia is subject to a set of percentages derived from the aime, known as bend points.
The secrets to maxing out your social security mp3 cd audiobook, mp3 audio, unabridged. Find all the books, read about the author, and more. Calculators can help you figure out when you should claim. The deadline for contacting the social security administration is the end of the month, and kotlikoff advises doing so online by friday. With support from the university, both were offered last week to every bu employee for the cost of the sales tax. Can you afford to retire early and claim benefits at age 62, should you wait until your full retirement age, or can you. Social security benefits demystified with laurence. Kotlikoff says social security is a complicated, at times unfair sytem designed with old white guys in mind. Maximize my social security when should i take social. His columns, articles, and books cover personal finance, generational policy, climate policy, inequality, tax reform, social security, banking, robotization, growth, and much more. It covers just about any social security claiming scenario.
Social security for dummies is the one guide you need to navigate the oftencomplex world of social security retirement benefits. Weve now moved ask larry to the best place to both answer your general questions and let you calculate your particular optimal benefit collection strategy. My weekly ask larry column ran for almost four years at pbs newshours site. Get whats yours has proven itself to be the definitive book about how to navigate the forbidding maze of social security and emerge with. Get whats yours has been revised and updated to reflect new regulations that took effect on april 29, 2016. Maximizing your social security retirement benefit takes knowhow. Kotlikoff is william fairfield warren distinguished professor and a professor of economics at boston university. In addition to explaining how social security works, he recently created an interactive calculator, open social security. My colleagues and i have developed pathbreaking and widely acclaimed software tools to dramatically improve personal financial planning. The secrets to maxing out your social security the get whats yours series kindle edition by kotlikoff, laurence j. Social security calculators on the market aim to help consumers and. This is the immediate and permanent percentage rise in social security s 12. Benefit estimates depend on your date of birth and on your earnings history. Learn the secrets to maximizing your social security benefits and earn up to.
Developed by social security expert laurence kotlikoff. The problem with quick and easy social security calculators pbs. There are also a number of books that explain the program and its benefits, including social security made simple by mike piper, author of the oblivious investor blog, and get whats yours. I tested 2 free social security retirement calculators. Kotlikoffs stateoftheart retirement software is available here, for free. Heres the new 2019 social security benefit formula the. Get whats yours has proven itself to be the definitive book about how to navigate the forbidding maze of social security and emerge with the highest possible benefits. And that amount may differ from the estimates provided because.
Kotlikoff provides a social security tool for both consumers and financial advisors through his company that he hopes will help steer them in the right direction. Would you be interested if i said there was a way to increase the value of your social security benefits by 15 or 20 percent. Social security calculators aim to take the complexity out. Ive spent a good part of my academic career studying personal financial behavior. Laurence kotlikoff is a professor of economics at boston university, president of economic security planning, inc. Social security breakeven calculator aarp online community.
Retirement estimator social security administration. It is an engaging manual of tactics and strategies written by wellknown. I think both approaches have issues theyre overlooking. Is my wifes social security spousal benefit half my. The retirement estimator gives estimates based on your actual social security earnings record. What will my social security retirement benefit be now. To get all the social security you deserve, read a book. Kotlikoff, moeller and solman have written an accessible short book on the ins and outs of social security and it is a mustread for anyone wanting to correctly understand what they are eligible for in terms of social security benefits, and when to apply for. Your earnings may increase or decrease in the future. While kotlikoff s software is perhaps the least visually appealing in its output for clients, it is arguably the most analytically robust, especially regarding some of the more esoteric social security situations, like calculating the windfall elimination provision wep and government pension offset gpo rules, the social security.
Laurence kotlikoff is a professor of economics at boston university, president of economic security planning, and a new york times bestselling author. Laurence kotlikoff professor of economics, boston university and president of economic security planning, inc. It covers just about any social security claiming scenario you might encounter, from child benefits to whether youre a divorcee, parent, retiree, spouse, or survivor. In 2009, senior officials at the social security administration were made aware of grossly underpaying widows who were entitled to much larger benefits. The author of 17 books and hundreds of articles, kotlikoff has also published two software products, maximize my social security and esplanner economic security planner. And ive used the maximize my social security subscription software. But larry kotlikoff can tell you just how complicated it is.
Learn 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. You will also learn where the best calculators are aarp has one, the authors. He is also president of economic security planning, inc. A final point that deserves some attention is the belief that social security is going bankrupt and that it wont be around for future generations of. This calculator takes the guess out of when to take social security benefits. For security, the quick calculator does not access your earnings record. His new book, get whats yoursthe secrets to maxing out your social. By kotlikoff s reckoning, the social security administration has 2,728 rules and the formula for determining the benefits of a married spouse. Professor kotlikoff is a ny times best selling author and the author or coauthor of 19 books. Kotlikoff is the president of economic security planning, inc. The secrets to maxing out your social security by kotlikoff. 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. The tool will tell you which claiming strategy will result in the highest lifetime. Laurence kotlikoff, professor of economics, boston university, and president of economic security planning, inc.