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Social Security Sense: A Guide to Claiming Benefits for Those Age 60-70
The average person living 25 years or more is likely to receive $500,000 or more in total Social Security benefits. That's not small change. The decisions you make about these benefits are often irrevocable - and when and how you collect these benefits can increase, or decrease, the amount you get over your lifetime. Social Security Sense provides practical how-to knowledge to help you navigate through the numerous rules, and make the best claiming choices for you and your family. In this book nationally known retirement expert Dana Anspach explains the Social Security claiming rules, including the changes that were signed into law in November 2015, and shows you numerous real-life examples as to how your decisions affect your lifetime income. This book: - Covers all the major aspects of Social Security claiming including the earnings limit, spousal benefits, ex-spousal benefits, taxation, survivor options, the benefit calculation formula, and more. - Explains the new rules that were signed into law in November 2015, and provides examples of how that affects your options based on your month and year of birth. - Provides concrete examples of how much you may get using one claiming age vs. another. - Helps couples use their benefits to get the largest amount of survivor income possible. - Shows you the common mistakes people make when doing their own benefit calculations and how those mistakes can lead you to making a less optimal decision. Social Security Sense is a book everyone age 55 or older should read before they begin their benefits. It will be a resource you turn to as you navigate your way through the claiming process, and it will enable you to feel confident in the decisions you make - and know they were made in a way that can lead to a more certain outcome in retirementSocial Security Sense provides practical knowledge on the Social Security claiming options and rules you must know before you file to begin benefits. This is a book that everyone age 55 or older should read before they begin their benefits - and it covers all the new rules that became law on Nov. 2, 2015.The rules are complex and you may get less income if you aren't aware of your choices. With Social Security Sense you'll see easy-to-follow examples that show you how doing things one way vs. another can lead to more money for you. You'll learn how to value your benefits and how to compare claiming choices in a fair and mathematically correct way. With a clear easy-to-understand outline of the rules, as well as pages of examples and references to online resources, you'll be ready to make the best decision possible for you and your family. Shows you how to value your benefits Explains how inflation adjustments are applied to your future income Covers special rules that apply if you were born on or before 1/1/1954 Provides comprehensive information for marrieds, divorcees, singles and widow/widowers Illustrates choices with over 15 tables showing many real-life examples