He defines three groups claiming Social Security benefits: traditional singles, traditional married couples and non-traditional clients, and he explores key issues affecting benefits, such as full retirement age and primary insurance amount. Charts starkly spell out why it’s wise to wait. For example, for those born between 1943 and 1954, with a full retirement age of 66, clients go from collecting 75% of benefits of PIA if begun at 62, to 132% if withdrawal begins at age 70.

Reichenstein explains the mechanics of survivor benefits and disability benefits, as well as retirement benefits and spousal benefits.

He says it would take another whole book to discuss the detailed rules affecting non-traditional clients so he steers readers to Social Security Strategies (2017) by himself and William Meyer, and to the software, www.SSanalyzer.com, which provides claiming strategies for all clients; that software is incorporated into the Income Solver software at www.IncomeSolver.com.

Income Strategies: How to Create a Tax-Efficient Withdrawal Strategy to Generate Retirement Income by William Reichenstein.  220 pages. Retiree Income Inc.

Eleanor O’Sullivan is an award-winning journalist who writes for Financial Advisor.

First « 1 2 » Next