Social Security Income Planning: The Baby Boomer's 2022 Guide to Maximize Your Retirement Benefits,Used

FULLY UPDATED for 2024 Tax Laws, Medicare, and more!On November 4, 2015, this book was cited, and I was quoted in a USA Today article about the new Social Security rules:The decision on how and when to file for Social Security should be made as part of an overall retirement income plan with your financial goals, life expectancies, and financial fears firmly in mind.Its your money. You paid $100,000s into the system your whole life (FICA taxes)so dont leave $10,000s of benefits sitting on the table that cannot be retrieved.Its my goal for both the middleclass and affluent Baby Boomers to realize that this is an important decision.Using the 4% rule, a $2,000 monthly Social Security check is worth some $600,000. How much thought should you give to an investment of that size?Too many people have no idea of what their real benefit options areand, unfortunately, can be prone to miss out on all the money they qualify for. Several useful examples are given to show you the full range of filing options and how to maximize the lifetime benefits you deserve.Written by an experienced Certified Financial Planner, this book is for soontobe retirees who want to learn about the different claiming strategies and ramifications of each (whether you are married, never married, divorced, or widowed).As you are reading the book, it becomes very apparent that I actually work in the retirement income planning field daily with real peoples savings, their Social Security filing optionsand their retirement dreams.But let me be clear that there is NOTHING about Social Security DISABILITY income payments or Supplemental Security Income (SSI) in my book (which caused some early negative reviews). If thats what you are looking for, dont buy this book.My books sole purpose is to provide people who are about to retire with all the information that they need to make the best Social Security benefit decisions based on their unique financial circumstances and retirement goals. In this respect, it is an essential planning guide.Perhaps one of the most unique portions of the book is where I combine my expertise in Social Security with my knowledge of income taxes to show readers how it is very possible to cut one's taxable income and subsequent retirement income tax bill by 50%.The example comparing the Earlys, the Waites, and the Bests shows whats possible.That alone is worth multiple times the book's price, as it explains how a savvy reader can save $1,000s of income tax dollars each year during their retirement by fully understanding how Social Security is taxed.The chapter about the 3 buckets of investment risk and the 3 taxation buckets is the perfect complement to learning about filing strategies since Social Security was never meant to provide for all of ones retirement income.Social Security Income Planningis concise and written in a conversational style, yet its jampacked with nonstop tips, warnings, things to consider, and much more you need to maximize your benefits.Again, the book rightfully stresses how your decision to file for your Social Security benefits should not be madeon a standalone basis. Your claiming decisions should be made in conjunction with your overall retirement income goals, your assets and other income resources, your adversity to risk, your (and your spouses) likely longevity, etc. This book helps put all those factors into perspective.It is a big decision. Dont let ignorance cause you to make a filing mistake that could cost you a bigger guaranteed lifetime income.Fully UPDATED for 2024, the latest MEDICARE info, plus the SECURE ACT 2.0![provisional income, Social Security taxation]