Professor of Economics, Boston University
President, Economic Security Planning, Inc.
“Money Magic is a must-read. An unconventional and entertaining page-turner, it will transform your financial thinking and show you how to improve your financial future.”
- Jane Bryant Quinn, author of How to Make Your Money Last
Laurence Kotlikoff, one of our nation’s premier personal finance experts and coauthor of the New York Times bestseller Get What’s Yours: The Secrets to Maxing Out Your Social Security, harnesses the power of economics and advanced computation to deliver a host of spellbinding but simple money magic tricks that will transform your financial future. Each trick shares a basic ingredient for financial savvy based on economic common sense, not Wall Street snake oil. Money Magic offers a clear path to a richer, happier, and safer financial life. Whether you’re making education, career, marriage, lifestyle, housing, investment, retirement, or Social Security decisions, Kotlikoff provides a clear framework for readers of all ages and income levels to learn tricks like:
- How to choose a career to maximize your lifetime earnings (hint: you may want to consider picking up a plunger instead of a stethoscope).
- How to buy a superior education on the cheap and graduate debt-free.
- Why it’s smarter to cash out your IRA to pay off your mortgage.
- Why delaying retirement for two years can reap dividends and how to lower your average lifetime tax bracket.
Money Magic’s most powerful act is transforming your financial thinking, explaining not just what to do, but why to do it. Get ready to discover the economics approach to financial planning—the fruit of a century’s worth of research by thousands of cloistered economic wizards whose now-accessible collective findings turn conventional financial advice on its head.
Kotlikoff uses his soft heart, hard nose, dry wit, and flashing wand to cast a powerful spell, leaving you eager to accomplish what you formerly dreaded: financial planning.
Author of Thoughts from the Frontlines
Personal finance columnist
Nobel Laureate in Economics, 2001 and co-author of Phishing for Phools
Armstrong Financial Strategies, Cheshire, CT
The New York Times Bestseller, Get What’s Yours!
Social Security law has changed! Get What’s Yours has been revised and updated to reflect new regulations that took effect on April 29, 2016.
Get What’s Yours has proven itself to be the definitive book about how to navigate the forbidding maze of Social Security and emerge with the highest possible benefits. It is an engaging manual of tactics and strategies written by well-known financial commentators that is unobtainable elsewhere. You could try reading all 2,728 rules of the Social Security system (and the thousands of explanations of these rules), but academia’s Kotlikoff, the popular press’s Moeller, and public television’s Solman explain the Social Security system just as comprehensively, and a lot more comprehensibly. Moreover, they demonstrate that what you don’t know can seriously hurt you: wrong decisions about which Social Security benefits to apply for cost individual retirees tens of thousands of dollars in lost income every year. (Some of those people are even in the book.)
Changes to Social Security that take effect in 2016 make it more important than ever to wait as long as possible (until age 70, if possible) to claim Social Security benefits. The new law also has significant implications for those who wish to claim divorced spousal benefits (and how many Social Security recipients even know about divorced spousal benefits?). Besides addressing these and other issues, this revised edition contains a chapter explaining how Medicare rules can shape Social Security decisions.
Many other personal-finance books briefly address Social Security, but none offers the full, authoritative, yet conversational analysis of Get What’s Yours.
Get What’s Yours explains Social Security benefits through basic strategies and stirring stories. It covers the most frequent benefit scenarios faced by married retired couples; by divorced retirees; by widows and widowers. It explains what to do if you’re a retired parent of dependent children; disabled; an eligible beneficiary who continues to work. It addresses the tax consequences of your choices, as well as the financial implications for other investments. It does all this and more.
There are more than 52 million Americans aged 54 to 69. Ten thousand of them reach Social Security’s full retirement age of 66 every day. For all these people—and for their families and friends—Get What’s Yours has proven to be an invaluable, and therefore indispensable, tool.
The Wall Street Journal
The New York Times
Author of Get a Financial Life
Author of Making the Most of your Money NOW
Laurence Kotlikoff is a professor of economics at Boston University, Fellow of the American Academy of Arts and Sciences, Fellow of the Econometric Society, Research Associate of the National Bureau of Economic Research, president of Economic Security Planning, Inc., and director of the Fiscal Analysis Center.
A New York Times bestseller author, he has written nineteen books and hundreds of professional articles and op-eds. He is a frequent television and radio guest. His columns have appeared in the New York Times, Wall Street Journal, London Financial Times, the Boston Globe, Bloomberg, Forbes, Yahoo.com, Fortune, and other major publications. In 2014, The Economist named him one of the world's 25 most influential economists.