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Economics professor at Boston University and Social Security expert Laurence Kotlikoff wrote in a recent book: “There are many ways to turn your lifetime Social Security benefits into a treasure ...
“Social Security is broke beyond belief,” Laurence Kotlikoff told The Brink, Boston University's research news website. “Its unfunded liability is $65.9 trillion — twice the size of ...
“There are 13 benefits through Social Security, and most people know about the retirement benefit but not the other 12,” Kotlikoff says. Social Security offers a range of benefits to those in ...
Kotlikoff is the President of Economic Security Planning, Inc., a company that markets MaxiFi Planner, an economics-based personal financial planning software program, and "Maximize My Social Security", a software program that helps Americans decide which Social Security benefits to take and when, to get the highest lifetime benefits. [34]
Image source: Getty Images. Patience pays off. In 2022, the National Bureau of Economic Research (NBER) published a paper by three economists: David Altig, Laurence J. Kotlikoff, and Victor Yifan Ye.
Delay Until Age 70. The maximum payout at full retirement age is $3,627 a month in 2023. But most financial planning experts recommend waiting even longer to start receiving benefits.
The Social Security Administration uses the 35 years of your career when you earned the most, averages those earnings, runs them through a complex formula, and adjusts for inflation. The result is ...
3. Delay your benefit. Delaying your benefit will increase your benefit check, but there’s a limit to how high it will go. You can begin taking your Social Security benefit at age 62, though you ...
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