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Social Security: Maximize Your Benefits
Social Security: Maximize Your Benefits
$11.99
Paperback
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BOOK DETAILS

  • Paperback
  • Sep.18.2012
  • 9781475089455

Kathleen gives an overview of the book:

Bestselling Wall Street Journal author Kathleen Sindell, Ph.D. has taught and written about financial management for the last 20 years.  Sindell’s latest book “Social Security: Maximize Your Benefits” is easy-to-understand and provides “just the facts” about getting the highest retirement benefits possible.   “Social Security: Maximize Your Benefits” offers practical information that allows you to select the optimal claiming strategy that applies to your personal financial circumstances. Based on your age and marital status (single, married, divorced or survivor) follow step-by-step instructions to maximizing your Social Security benefits.  You can quickly select what works best for you from dozens of examples, figures, tables, and graphs.   Discover the “right” time to claim Social Security benefits. Uncover claiming strategies you may not be...
Read full overview »

Bestselling Wall Street Journal author Kathleen Sindell, Ph.D. has taught and written about financial management for the last 20 years.  Sindell’s latest book “Social Security: Maximize Your Benefits” is easy-to-understand and provides “just the facts” about getting the highest retirement benefits possible.  

“Social Security: Maximize Your Benefits” offers practical information that allows you to select the optimal claiming strategy that applies to your personal financial circumstances. Based on your age and marital status (single, married, divorced or survivor) follow step-by-step instructions to maximizing your Social Security benefits.  You can quickly select what works best for you from dozens of examples, figures, tables, and graphs.  

  • Discover the “right” time to claim Social Security benefits.
  • Uncover claiming strategies you may not be aware of.
  • Zero in on the optimal claiming strategy for you and your family.
  • Become aware of the advantages of claiming spousal benefits.
  • See how you can boost monthly benefits by using Delayed Retirement Credits (DRCs).
  • Find out how your family (even dependent parents and grandchildren) can claim survivor benefits.
  • Determine the impact of early retirement on your financial future.
  •  Avoid benefit claiming mistakes that can cost you thousands of dollars  

 

 

 

 

 

 

 

 

 

Read an excerpt »

Summary of Chapter 5: “Claim Now and Claim More Later” to Boost Monthly Benefits 

The “Restricted Application” approach is often called the “Claim Now and Claim More Later” strategy. This is a “married only” approach that works when one of the spouses is FRA. This method is best when the low earner claims benefits, the FRA high earner files for his or her own benefits and immediately “restricts” the application and claims spousal benefits on the low earner’s work record. The high earner collects spousal benefits and accrues Delayed Retirement Credits (DRCs) from 66 to 70. At age 70 the high earner re-applies and claims benefits on his or her own work record. Many experts state that at this time the low earner spouse can claim spousal benefits on the high earner’s work record. However, before taking any action check with a financial professional to verify that the low earner spouse can change accounts. The benefits of the restricted application approach, if the high earner works for four years after FRA, include an increase to the FRA benefit of 32 percent. The DRCs will also increase the first death survivor benefit and provide a higher base for annual Cost-Of-Living-increases (COLAs). This approach is especially effective for ex-spouses who “want to catch-up” and plan to work until 70. Ex-spouses can use the restricted application strategy to increase their retirement nest eggs even if the ex-spouse does not file for benefits.  Claiming strategies can get pretty complicated. The Internet provides several sources of optimal claiming strategy calculators and software programs. Prices and services vary from free online calculators to companies with live financial advisers who will file your Social Security application, monitor your account and provide you with a social security optimization report. 

 

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Note from the author coming soon...

About Kathleen

Kathleen Sindell, PhD has over 20 years of success providing financial analysis and personal financial advice to businesses and individuals to assist them with their investment activities and financial decision-making.  Her proven expertise in collecting and analyzing data,...

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