Anyone who has paid much attention to Social Security has probably heard that there are ways to increase the amount of one’s monthly payment. Not everyone knows how it can be done. In this report, Social security expert Brian Doherty explains how to get the most out of your Social Security benefits.
First, Doherty says, you should delay for as long as you can making the claim to start your benefit checks. The longer you wait before you claim your benefits, the larger will be the monthly checks you receive. You don’t want to wait too long, of course, so some thought needs to be given to the process.
The second thing people should be aware of, Doherty says, is the annual cost of living adjustment (COLA). By delaying the beginning of benefit checks to maximize the amount of the check, you will also get the most out of the COLA increase. The obvious result is that you will get an enhanced benefit every year because the annual percentage increase applies to the larger check you receive because you delayed in claiming your benefits.
Brian Doherty is the author of a new book “Getting Paid To Wait,” which reveals his groundbreaking strategy on how to maximize Social Security benefits. He is a nationally-recognized expert on Social Security claiming strategies and a top-rated speaker and media commentator on this topic. He began his career as a financial advisor with Dean Witter. He is President of Filtech, a consulting company specializing in Social Security claiming strategies. The Legal Broadcast Network is a featured network of the Sequence Media Group.