August 23, 2012

  • On the QT: A Few More Social Security Secrets

    Boston University economist Larry Kotlikoff’s Social Security Secrets have become one of the hottest online features ever at the NewsHour. He’s been building his list of secrets for the past two months at various web venues — the Huffington Post and Forbes.com — Making Sense incorporating reader feedback, learning more and passing it on to readers here on Making Sen$e.

    We present these latest additions: seven new Secrets, as well as a link to the previous 34. And remember, “Ask Larry” is our now-regular Monday feature in which Larry answers your questions on Social Security, and perhaps other retirement quandaries as well.

    35. If you take your spousal benefit before full retirement age, you will be forced to take your retirement benefit as well. But both will be smaller than if you waited until full retirement age.

    via On the QT: A Few More Social Security Secrets | PBS NewsHour.

    posted to Divorce,Elder Care/Family Decision Making,Mediation @ 9:27 am


  • 34 Social Security Secrets You Need to Know Now

    The Social Security Handbook has 2,728 separate rules governing its benefits. And it has thousands upon thousands of explanations of those rules in its Program Operating Manual System, called the POMS, which provides guidance on implementing the 2,728 rules. Talk about a user’s nightmare!

    As a young economist, I did a fair amount of academic research on saving and insurance adequacy. At the time, I thought I had a very good handle on the rules. Then I started a financial planning software company, which makes suggestions about what benefits to take from Social Security and when to take them to get the best overall deal. (See, in this regard, www.maximizemysocialsecurity.com and www.esplanner.com.)

    via 34 Social Security Secrets You Need to Know Now | The Business Desk with Paul Solman | PBS NewsHour | PBS.

    posted to Divorce,Elder Care/Family Decision Making,Mediation @ 9:24 am