Ask Larry

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. I 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.

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

Should I Switch To My Own Benefits Prior To The End Of 2022 To Take Advantage Of Next Year's COLA?

I am divorced and am currently receiving my ex-spouses' SSB until I turn 70 which will be in May 2023. My benefit (on my own account) will of course increase by 8% in 2023. I have read that the COLA for 2023 will be 8.6. Should I go ahead and switch to my own benefits prior to the end of 2022 so that I can take advantage or the extra .6% in benefits? (I am assuming that my benefits are not increasing 8% yearly plus the COLA?)

Hi. You don't need to start drawing your own benefits early in order to get credit for the 2023 COLA. Your Social Security . . . Read More

Category: Cost Of Living Increases
Posted: May 21 2022 - 4:42pm

Am I Still Eligible To Collect SSDI After My 36 Month Period Ends?

So my 36 months period ends march 2023. Am I still eligible to continue to collect ssdi

Hi. I assume that you're referring to the Extended Period of Eligibility (EPE) for Social Security disability (SSDI) benefits. In that case, the answer is yes, but only if you don't earn more than the substantial gainful activity (SGA) limit after the 36 month period ends. The current SGA limit in 2022 for non-blind individuals is $1,350.

A person's EPE extends for at least 36 months after the 9th month of their trial work period (TWP), but can continue . . . Read More

Category: Disability Benefits
Posted: May 21 2022 - 4:27pm

Is There Any Way For Me To Shelter My Insurance Award So That I Won't Have To Give So Much To Social Security?

I am currently negotiating a Personal Injury lawsuit settlement with an insurance company that will put me way over my allowed annual earning. Is there any way for me to shelter this award to avoid giving so much to social security?

Hi. The only way that an insurance settlement would possibly count for purposes of Social Security's annual earnings test is if it involves wage payments or self-employment earnings. Wages and self-employment earnings are the only type of income that counts for earnings test purposes ( . . . Read More

Category: Earnings Test
Posted: May 20 2022 - 9:24pm

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Ask Larry

Latest Questions and Answers

Should I Switch To My Own Benefits Prior To The End Of 2022 To Take Advantage Of Next Year's COLA?

Am I Still Eligible To Collect SSDI After My 36 Month Period Ends?

Is There Any Way For Me To Shelter My Insurance Award So That I Won't Have To Give So Much To Social Security?