Noted financial expert John Mauldin talks about the need to fix the Social Security system and how valuable our book is in helping seniors. He also publishes a piece by Get What’s Yours coauthor Larry Kotlikoff.
I believe I paid about $10-$15, in early 2015, for your book. I started reading it in early 2016, totally unaware of the upcoming Social Security regulation change. I turned 66 on April 27, 2016; two days before the change. I found my way through the Social Security website, filed and suspended just in time. As a result, my $15 investment for your book will bring about $47,000 of benefits to my wife that we otherwise would have missed. Thank you!! Dennis Butcher
Among all of Social Security’s arcane rules, secrets, and claiming surprises, the greatest personal revelation to me has been that the agency often gives out confusing, inconsistent, and even flat-out wrong information. Color me naïve, but when I began research for our book, I assumed the Social Security Administration (SSA) was the place to go for accurate information.
I’m going to repeat this information one last time, as it is so critical to so many people.
If you a) are between 66 and 70 or will turn 66 on or before April 30, b) have a spouse who was 62 before Jan. 2, 2016 or have young or disabled children (who became disabled before 22 and remained disabled) and c) want to provide them benefits on your work record while your own benefit is suspended (thus, letting it grow through its age-70 maximum amount), you need to file for your retirement benefit and immediately suspend it by or on this Friday!
The 2015 Budget dramatically changed Social Security claiming options. Every day I get a host of emails from the victims of these changes. Most are like my 64-year-old secretary, who I wrote about last week, who, thanks to Congress and the President, lost her ability at age 66 to do three things: a) get a child benefit for her severely disabled child, b) a get spousal benefit for her non-working husband who has had to stay home and care for their child for years, and c) file for her retirement benefit, immediately suspend it and wait until 70 to collect her highest possible retirement benefit.
But if the new Social Security benefit rules are here for good, and they certainly seem to be, what should people do? Here are 12 secrets to maximizing your lifetime Social Security benefits under the new rules.
At the end of October, Congress approved a budget-agreement bill that included significant changes to Social Security. The ability to file-and-suspend benefits, which has helped many individuals and families to increase their retirement incomes, is being eliminated. Other changes will also reduce the ability of people, especially those under age 62, to ever again use many of the claiming tools in our book.
We are working to get out a revised edition of Get What’s Yours as quickly as possible. Until then, please visit this page and also look for articles by Larry and Phil to keep up to date with this major reduction in claiming options.
After our book went to press, Social Security changed a few sentences deep within the bowels of its Program Operating System. Read more