One Sentence Summary
This book provides a comprehensive guide to securing maximum Social Security benefits, covering both retirement and survivors’ benefits from the perspective of experienced economists.
Book Genre
Personal finance, non-fiction, economics
Main Topic of the Book
The main topic of the book “Get What’s Yours: The Secrets to Maxing Out Your Social Security” is how to maximize Social Security benefits, including both retirement and survivors’ benefits. It provides detailed advice on optimization and strategic planning of Social Security options applicable to individuals, spouses, and couples.
Key Ideas
- Understand the Basics: A key theme of the book is for readers to understand the components of Social Security benefits and the technical aspects, such as cost of living adjustments, taxation of benefits, the effects of claiming before and after full retirement age, and how to maximize Social Security for married couples.
- Plan Ahead: The book also emphasizes the idea of careful and strategic planning of Social Security benefits to maximize the benefits during retirement. Tips include details on how to claim, how to change the beneficiary after benefits have already been claimed, and how to overrule technology to get the best results.
- Explore Opportunities and Options: The book introduces various creative ways to take advantage of Social Security benefits, such as spousal benefits, strategies to delay retirement to receive maximum income in the long-term, and advice for those that qualify for disability benefits.
Main Parts of the Book and a Short Summary
The first part of the book provides an introduction of Social Security and covers the fundamentals of the program, including how it works, changes in the program, taxation of benefits, and other important aspects. The second part is focused on maximizing Social Security benefits for individuals, spouses, and couples. This section explains different strategies and tools (including the Social Security claiming calculator) to examine the optimal choice for one’s specific circumstance. It also covers details on how to implement the best option to maximize Social Security benefits. The third part describes the Social Security disability program and provides advice on how to plan for disability insurance and navigate through the bureaucratic structure if necessary. The fourth part explains Social Security survivor benefits and explores different strategies for married and unmarried couples.
Key Takeaways
- Comprehensive Plan: This book provides a clear and comprehensive guide on how to maximize Social Security benefits for individuals, spouses, and couples. It covers topics such as retirement, survivor and disability benefits, and how to strategically plan for them.
- Strategic Planning: The book emphasizes the importance of strategic planning when it comes to Social Security benefits, and explains different techniques to achieve the best possible outcomes. It encourages readers to understand the details and complexities of Social Security, and to explore creative opportunities to benefit the most from the program.
- Reliable Source: The book was written by experienced economists who help to demystify the often confusing and overwhelming process of claiming Social Security benefits. It provides valuable guidance for those looking to maximize their Social Security benefits.
Author’s Background and Qualifications
Laurence J. Kotlikoff is an American economist and professor at Boston University. He is author of numerous books, including The Coming Generational Storm (coauthored with Scott Burns and Andrew Eschtruth) and Jimmy Stewart Is Dead (coauthored with Scott Burns). He has received numerous awards in economics, including the National Academy of Social Insurance’s prestigious Robert M. Ball Award for Outstanding Achievements in Social Insurance, and he is a past president of the National Tax Association.
Target Audience
This book is aimed at individuals who are approaching retirement and those already in retirement, as well as spouses and couples who are looking to maximize their Social Security benefits. It provides a comprehensive overview of Social Security so readers can make informed decisions on how to maximize their retirement savings.
Publisher and First Publication Date
The book “Get What’s Yours: The Secrets to Maxing Out Your Social Security (The Get What’s Yours Series)” was first published by Simon & Schuster on January 5, 2015.