Retirement BENEFITS MADE SIMPLE: A Practical Guide to Social Security, Medicare, Income, and the Decisions That Matter Most

Introduction Retirement Shouldn't Require a Law Degree You work for decades. Money comes out of your paycheck for Social Security and Medicare. You see those deductions year after year. Then retirement finally gets close, and suddenly you are expected to understand an enormous collection of rules. Should you take Social Security at 62? Should you wait? What is full retirement age? What happens if you keep working? Can your spouse receive benefits? Can an ex-spouse receive benefits? What happens when your husband or wife dies? Will Social Security be taxed? Do you need Medicare at 65 if you are still working? What is Part A? Part B? Part C? Part D? What is Medigap? Those questions can become overwhelming. That is why this book exists. The Social Security Playbook is designed to take complicated retirement subjects and explain them in straightforward language. There is no single Social Security strategy that is best for everyone. A person with significant savings may make a different decision from someone who needs income immediately. A married couple may plan differently than a single retiree. Health, employment, pensions, savings, taxes, life expectancy, and family circumstances can all matter. The goal should not simply be to receive the largest Social Security check possible. The goal is to make Social Security work intelligently with the rest of your retirement. A larger future payment is valuable, but so is having enough money today. Medicare coverage matters. Taxes matter. Survivor protection matters. Savings matter. Your retirement is a complete financial picture. Throughout this book, remember one principle: Do not make an important retirement decision simply because somebody else made the same decision. Understand your choices first. Then make the decision that fits your life.