Get What’s Yours : The Secrets To Maxing Out Your Social Security by Laurence J Kotlikoff and Philip Moeller

Social Security law has undergone changes that you need to be aware of! There are certain important details that may require your attention before April 30, 2016. If either you or your spouse turns 66 by this date, this book is a must-read. It is also advisable for everyone to regularly check for updates on the authors’ website, GetWhatsYours.org.

Despite the recent changes in the law, this book uncovers numerous strategies for maximizing your Social Security benefits that are not available anywhere else. Above all, Get What’s Yours emphasizes the lifetime benefits of waiting as long as possible to claim.

Navigating through the complicated Social Security system can be daunting. There are 2,728 rules and countless explanations. However, Kotlikoff, Moeller, and Solman simplify the process for you by explaining Social Security benefits in a straightforward and user-friendly manner.

What you don’t know about Social Security can severely impact your financial situation. Making wrong decisions regarding benefit applications can result in substantial income loss for retirees. Get What’s Yours addresses the most common scenarios faced by married couples, divorced individuals, widows, widowers, and others. It provides guidance for retired parents of dependent children, disabled individuals, and those eligible for continued work. Additionally, the book offers advice on wise retirement planning, including tax implications and the impact on other investments.

While other personal finance books touch upon Social Security, none provide the comprehensive and authoritative analysis found in Get What’s Yours. The book combines thoroughness with a conversational tone, making it an invaluable resource for navigating the complexities of Social Security.

If you’re eager to learn some money magic that goes beyond traditional financial planning, you’re in luck. In this article, we will unveil a few secret strategies that can significantly impact your retirement savings. One of the first secrets we’ll share is the power of delaying your Social Security benefits.

Delaying Social Security Benefits

Did you know that the retirement benefits from Social Security can increase by a whopping 76% if you wait until age 70 to start receiving them? That’s right! By being patient and delaying your benefits, you can enjoy a substantial increase in your monthly payments.

While taking Social Security at age 62 might seem tempting, it’s essential to consider the long-term impact. By waiting a few more years, you can maximize your retirement income and make the most of your hard-earned money.

Unconventional Investment Opportunities

Another money magic trick that most financial planners overlook is exploring unconventional investment opportunities. While traditional options like stocks and bonds have their place, it’s crucial to think outside the box.

Consider exploring alternative investments such as real estate, peer-to-peer lending, or even cryptocurrency. These assets can provide diversification and potential high returns that may not be achievable through traditional avenues.

The Power of Tax Planning

When it comes to optimizing your finances, tax planning is a secret weapon that shouldn’t be underestimated. Many individuals fail to realize the significant impact that tax strategies can have on their overall savings.

By making the most of tax-deferred retirement accounts like IRAs and 401(k)s, you can effectively reduce your taxable income and potentially save thousands of dollars in taxes. Additionally, exploring tax-efficient investment strategies can further enhance your financial well-being.

Maximizing Employee Benefits

Your employee benefits package can serve as a hidden gem in your wealth-building journey. Unfortunately, many individuals fail to take full advantage of these perks.

Review your employee benefits carefully and explore all the available options. Find out if your employer offers a matching contribution to your retirement plan and ensure you contribute enough to maximize this benefit. Take advantage of any health or wellness programs that can help reduce your healthcare costs.

Investing in Yourself

Last but not least, one of the most overlooked money magic tricks is investing in yourself. Education and personal development can have a significant impact on your earning potential and financial future.

Consider acquiring new skills or certifications that can lead to promotions or higher-paying job opportunities. Attend workshops, seminars, or online courses to enhance your knowledge in areas relevant to your career or financial goals.

By applying these money magic tricks, you can take control of your financial future and achieve long-term prosperity. Don’t settle for conventional strategies; instead, explore alternative options that can boost your wealth and bring you closer to your dreams.