UPDATED for 2014 This is perhaps the most encompassing, yet
easy-to-understand book on the vital and timely topic of Social
Security retirement income planning. It is written by an
experienced Certified Financial Planner for soon-to-be retirees who
want to learn all about the different claiming strategies for
couples and for single persons (whether never married, divorced or
widowed). Most people have no idea of what some their real benefit
options are -- and unfortunately can be prone to miss out on
$10,000's. Before describing what readers will find in the book,
let me point out that there is purposely nothing written about
Social Security DISABILITY income payments or Supplemental Security
Income (SSI). The book's sole purpose is to provide people who are
about to retire, with all of the information that they need to make
the best Social Security benefit decisions based on their own
financial circumstances and retirement goals. In this respect it is
an essential planning guide and road map. A quick scan of the table
of contents gives a glimpse of the scope and amount of powerful
information provided. However, what the table of contents does not
show is how 95% of Social Security recipients (both couples and
many singles) will leave up to $50,000 of benefits sitting on the
table that cannot be retrieved. This is money that they are fully
entitled to, but these folks did not follow the little-known
claiming strategies described in this book. It's your money, you
paid into the system your whole life - so don't miss out on getting
every dollar that you can. There are many useful examples given to
show baby boomers the full range of their filing options and how to
maximize their lifetime benefits. Written in plain English, these
examples are meant to encourage you to carefully consider how you
can get the most total benefits available under the law. Perhaps
one of the most unique portions of the book is where the author
combines his expertise of Social Security with his knowledge of
income taxes to show readers how it is very possible to cut ones
taxable income and their subsequent retirement income tax bill by
50%. The story comparing the Early's, the Waite's and the Best's is
worth ten times the price of the book, as it explains how a savvy
reader can save $1,000's of income tax dollars each year during
their retirement. 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 one's retirement income. Not only is this
discussion vital for soon-to-be retirees, it should be required
reading for every American adult before they EVER invest a single
dime anywhere. Don't let the low cost of the book fool you. While
reading the book, it becomes very apparent that Mr. Orr actually
works in the retirement income planning field on a daily basis with
the non-stop tips, warnings, things to consider and much more.
Everything is discussed in "real world" terms, not useless academic
theory. "Social Security Income Planning" is well organized,
concise and written in a conversational style, yet it's jam-packed
with all the information you need to maximize your Social Security
benefits. The advanced concepts and planning strategies are made so
simple, that you will be able to explain them to your co-workers...
or even to your financial advisor (who very likely has just a vague
understanding of the strategies you are talking about) Finally, the
book rightfully stresses how your decision to file for your Social
Security benefits should not be made on a "standalone basis." That
your claiming decisions should be made in conjunction with your
overall retirement income goals, your assets and other income
resources, your level of adverseness to risk, your (and your
spouse's) likely longevity, etc. Buy this book today and become an
educated consumer of your Social Security benefits
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