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Description edit
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... read more
Ridiculously Simplified Synopsis edit
Summary edit
This book is written for you, you and the thousands of folks like you who will soon be living on fixed incomes. Many of you are unaware of the Social Security retirement benefits to which you are entitled. The Social Security Handbook has 2,728 rules governing benefits. The Program Operating... read more (warning: may contain spoilers)
Table of Contents edit
EXTENDED TABLE OF CONTENTS
Acknowledgements
ChapterIntroduction
Why this book at this Time?
If you Need Help Implementing Your Optimal Claiming Strategy
How This Book is Organized
Summaries of the Chapters
Chapter One: Increasing Your Benefits by Selecting the “Right Application Date”
Social Security Benefits are a Retiree’s First Line of Defense
Your “Red Zone” Years
Who is Eligible for Social Security Benefits?
The Social Security Credit System
Getting Credit for Military Service
Downloading your Individual Social Security Statement
Making Corrections to your Earning’s Record
When Should you Start Social Security Retirement Benefits?
What are the Maximum Social Security Benefits?
What are the Minimum Social Security Benefits?
How Longevity Affects Your Social Security When You Should Apply for Social Security
How Early Retirement Reduces Benefits
The Cumulative Impact of Early Retirement
Taxation of Social Security Retirement Benefits for Early Retirees
Examples of Taxation on Early Retirement Benefits
Definitions of Earned Income and Early Retirement Benefits
Determining Your “Break-Even Age” if you Retire Early
Early Retirement and How it Affects your Spouse’s Benefits
Maximizing Your Benefits by Delaying Your Application
Delayed Retirement and How it Affects Your Benefits and Your Survivors
Calculating the Attainment of Your Retirement Age
The Timing of Full Retirement Age (FRA)
Day of the Month You Can Expect to Receive Benefits
Chapter Two: Increasing Your Benefits by Utilizing Spousal Benefits
Definitions of Spouse, Common-Law Spouse, Ex-Spouse and Widow(er)
Family Benefits for your Spouse, Child and Dependent Parents
Spousal and Ex-Spousal Benefit Amounts
Retirees and Eligible Children
Benefits for Dependent Parents
Dependent Children of Grandparents
Calculating the Family Maximum Benefit Amount
Family Members can be Entitled to More Than One Benefit
How Selecting the Right Application Date Affects Your Spousal Benefits
Social Security Benefits for Ex-Spouses
Calculating Early Spousal Benefits
Should You Claim Benefits Based on Your Own Record or Your Spouse’s Record?
Chapter Three: Optimal Claiming Strategies for Widow(ers) and Survivors
Traditional Unions and Eligibility for Survivor Benefits
Non-Traditional Unions and Eligibility for Survivor Benefits
Family Maximum Benefits (FMB) Amounts
Taxation, Working and Survivor Benefits
Defining Survivor Fully Insured and Currently Insured Benefits
Survivor Eligibility Requirements and Benefit Amounts
Claiming Options for Survivor Benefits
Analyzing Widow(er) and Surviving Ex-Spouse Claiming Options
Survivor Benefits if the Deceased Worker Never Filed for Benefits
Calculating Survivor Benefits for a Deceased FRA Worker
Determining Survivor Benefits for a Deceased Non-FRA Assessing Survivor Benefits for a Deceased Early Retiree
Optimization Strategies for Widow(er)s and Survivors
Chapter Four: Getting More by “Resetting” Your Application
Instructions for “Resetting” You Social Security Application
Chapter Five: Maximizing Your Benefits by Claiming Now and Claiming More Later
For Marrieds Only: The Restricted Application Approach
A Comparison of the Traditional and Restricted Application Approaches
Examples of Online Maximization Calculators and Programs
Chapter Six: The “File and Suspend” Approach to Maximizing Benefits (the “62 / 70 Split”)
“File and Suspend” Another Marrieds Only Approach
The File and Suspend Procedure Step-by-Step
The File and Suspend Strategy if the Spouse is Not Yet FRA
The Fine Print about the File and Suspend Approach
A Few Pointers Before Implementing the File and Suspend Strategy
A Comparison of the Traditional and File and Suspend Approaches
Combining the Restricted Application and the File and Suspend Approach
Chapter Seven: How Working After Retirement Can Increase Your Benefits
Key Benefits for Working after Your FRA
How Big of an Impact Will Working After Retirement Have on Benefits?
A Warning for Early Retirees Who Plan to Continue Working
How Much Can You Earn While Receiving Social Security Benefits?
Chapter Eight: What Could Reduce Your Benefits
Understanding Integrated Pension Plans
Defining Government Pension Offsets(GPOs) and Social Security Benefits
A Practical Example of How GPO Works
Calculating the Windfall Elimination Provision (WEP) Reduced Benefit
Limits on WEP Reductions
WEP, Retirement Planning and Maximizing Your Benefits
Conclusion
How to Monitor Changes in Social Security
Sources for Additional Social Security Information
Appendix A: A Comparison of the Restricted Application and File and Suspend Maximization Strategies
Glossary
Index
Authors & Contributors edit
- Kathleen Sindell, Ph.D. (Author)
Subjects edit
Links to Supplemental Material edit
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