Ask Larry

What are your Social Security questions? Ask Professor Larry Kotlikoff and the experts at Maximize My Social Security

My weekly Ask Larry column ran for almost four years at PBS NewsHours' site. We've now moved Ask Larry to the best place to both answer your general questions and let you calculate your particular optimal benefit collection strategy.

We pledge to answer as many questions as possible in the columns below. Please share Ask Larry on social media and consider purchasing our Maximize My Social Security program, which will show you precisely how to get everything you paid for. All my best, Larry.

Ask Your Questions Here

Picture of Professor Laurence Kotlikoff — Laurence "Larry" Kotlikoff, Professor of Economics, Boston University, and President of Economic Security Planning, Inc., makers of Maximize My Social Security

Latest Questions and Answers

Does My Benefit Rate Increase By The COLA And The 8% Yearly Increase?

My wife began taking her full benefits at FRA. I began taking spousal benefits at FRA with the intention of waiting until 70 for mine. We were both born in 1953. I can no longer see what my full benefit will be at 70 at SSA. Can I manually calculate by going back to my FRA benefit? Also, does the benefit increase by the COLA and the 8% yearly increase? OR, can I obtain this amount by contacting SSA? Thanks!

Hi. Yes. If you haven't had earnings since your full retirement age (FRA) that were high enough to increase your benefit rate, then you could get a . . . Read More

Category: Benefit Amount
Posted: Feb 6 2023 - 12:28pm

Aren't Benefit Rates Increased For Each Month You Delay Filing?

I am delaying retirement and want to know what my benefits will be on my 68 birthday which is september. the ssa gov calculator shows no increase until 2024. I thought they increased each month!

Hi. You do earn delayed retirement credits (DRC) for every month that you don't collect Social Security retirement benefits between your full retirement age (FRA) and age 70, but if you claim benefits before age 70 then your benefit rate is initially only credited with any DRCs you accrued through December of the year prior to the year you claim benefits. So, if . . . Read More

Category: Delayed Retirement Credits
Posted: Feb 6 2023 - 12:09pm

Would You Recommend Any Options For Me And My Wife Other Than Waiting Until Age 70 To Apply?

I recently finished reading your book :Get What's Yours". I am married, my wife is 58 and I am 50. My wife plans to retire in 5 years at 63 and I plan to retire in 15 years at 65. I make about 50-75% more than my wife. It sounds like our best option to get what's ours for claiming social security is to wait until we are both 70 before we start collecting. Are there any other options you would recommend?

Hi. It sounds like the best filing strategy for you and your wife depends largely on how your primary insurance amounts (PIA) compare. A person's PIA is . . . Read More

Category: Filing Strategies
Posted: Feb 5 2023 - 5:10pm

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