ABOUT Laurence

Laurence J. Kotlikoff is a William Fairfield Warren Professor at Boston University, a Professor of Economics at Boston University, a Fellow of the American Academy of Arts and Sciences, a Fellow of the Econometric Society, a Research Associate of the National Bureau of Economic Research, President of Economic Security Planning, Inc., a company specializing in [...]


Joe Anderson
ABOUT Joseph

As CEO and President, Joe Anderson has created a unique, ambitious business model utilizing advanced service, training, sales, and marketing strategies to grow Pure Financial Advisors into the trustworthy, client-focused company it is today. Pure Financial, a Registered Investment Advisor (RIA), was ranked 15 out of 100 top ETF Power Users by RIA channel (2023), was [...]

Alan Clopine

Alan Clopine is the Executive Chairman of Pure Financial Advisors, LLC (Pure). He has been an executive leader of the Company for over a decade, including CFO, CEO, and Chairman. Alan joined the firm in 2008, about one year after it was established. In his tenure at Pure, the firm has grown from approximately $50 [...]

Laurence Kotlikoff, Professor of Economics at Boston University, joins the show to discuss three rules to live by when claiming Social Security , as well as key assumptions to be aware of if you are under the age of 60.  Check out his book, Get What’s Yours to read more about social security benefits.

0:43 “What you don’t want to do is take your benefits immediately because two things bad happen to you; first, you get a permanently lower retirement benefit, and secondly you can wipe out your other benefits that you collect”

1:12 “Three rules for how to maximize your Social Security benefits: to be patient and to take advantage of these higher benefits, to understand all the benefits you have available to you—it’s more than just your retirement benefit, and the third rule is to strategize over when to take what—time your benefits”

1:43 “The strategy for if you’re getting more than one benefit is to take one benefit early, let the other one grow, and then start taking it”

2:16 “If you’re under 60, there’s an assumption that in the future your benefits will not be adjusted for inflation because there will not be any inflation”

3:21 “If I’ve already claimed my benefit, is there anything I can do to unwind any of it?”

3:29 “Anyone who is under 70 and is collecting retirement benefits can fix that mistake by suspending their benefit if they’re between full retirement age and 70”

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