Sunday, February 11, 2018
Book Review: 'The Little Black Book of Social Security Secrets, Couples Ages 62-70' by James Lange
The exceptionally handsome author/attorney/CPA James Lange offers help to readers eager for assistance in surviving the ‘golden years of retirement’: he has written seven books on the subject of secure retirement advice - Retire Secure! Pay Taxes Later, The Roth Revolution, Pay Taxes Once and Never Again, Live Gay Retire Rich, Retire Secure for Same Sex Couples, Retire Secure, and now The Little Black Book of Social Security Secrets. He has also published numerous articles in the major publications on the subject of retirement and estate planning. From his stance as both an attorney and a CPA he knows the arena about which he speaks and just happens to have a mastery of encouraging coaching abilities to match.
His infectious writing style is evident form the opening of his book: ‘One of the reasons I wrote this book was to help married taxpayers get the most out of their Social Security benefits. Though estimates vary, as many as 97 percent of married Social Security recipients fail to optimize their benefits… Let’s take a quick look at two couples, the Rushers and the Planners who live next door to each other. They both have $ 1.1 million, identically invested, and they both spend $ 75,000 per year. But they differ in their Social Security and Roth IRA conversion strategies.’ And James continues on about the differences and the consequences of bad decisions – or lack of intelligent action! He even emphasizes his evaluation by stating, ‘Remember These Dates April 29, 2016 is the last day to file for the Apply and Suspend strategy. If you were at least 62 years old as of December 31, 2015, you will be eligible to file a Restricted Application for benefits, also known as “Claim Now, Claim More Later,” so long as you do so prior to December 31, 2019.’ You can’t get more specific than that!
To offer a further spectrum of what James covers, his chapters are as follows: Why Should I Care that the Rules Have Changed?, When Should I Apply?, How Much Can I Expect to Receive?, The Apply and Suspend Strategy, Restricted Applications, Combining Strategies, and The Synergy of Roth Conversions and Timing Security Benefits. These are chapter titles only but they each open doors and windows of expert advice on how to maximize income form Social Security. This book is a must read for all people even thinking about retirement! Highly Recommended. Grady Harp, April 16
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