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Soc Sec Max Benefits & Spousal Benefits Explained
Boston University Economics Professor Laurence Kotlikoff explains the issue of maximum Social Security benefits. He highlights the fact that it can differ for two people with the exact same lifetime earnings if birth year is different. The author also explains how a higher income late in one’s career can knock off a lower income year early in one’s working years. The article concludes with how spousal benefits are calculated, eligibility for spousal benefits, and how the earnings test affects on a spouse’s benefits. Read Kotlikoff’s full piece in Forbes.com by clicking here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.