093: Social Security Horror Stories and How to Maximize Your Benefits with Larry Kotlikoff

It’s no secret that Social Security is a significant issue in this country. But what’s worse is that many people are unaware of how to maximize the Social Security benefits they paid into throughout a lifetime of hard work.  Today, we’re talking about worst-case scenarios with Larry Kotlikoff. Larry is a professor of economics at Boston University, a Fellow of the American Academy of Arts and Sciences, a Research Associate of the National Bureau of Economic Research, and a former Senior Economist on the President’s Council of Economic Advisors. His work has been featured in countless publications, and he testified to Congress on tax reform and other issues 19 times.  In our conversation, we’ll focus on his new book, Social Security Horror Stories, where he outlines ways to ensure you get your benefits, avoid clawbacks, and navigate the seemingly impossible bureaucracy that is Social Security. We also discussed the dysfunction and abuses that have made dealing with Social Security so awful, how to make sure you’re not missing out on any possible benefits, and you’ll hear Larry’s ideas on what can be done to fix the system. In this podcast interview, you’ll learn:  What a Social Security clawback is–and how people have ended up being told to pay back hundreds of thousands of dollars in payments. How Social Security has stolen millions in benefits from tens of thousands of Americans. Why the calculations for the fiscal gap for Social Security funding are wildly off. Why Larry believes that Social Security as we know it should be retired and rethought entirely to end generational and bureaucratic abuse. How Fit Is Your Retirement Plan?  We can help you manage your finances so you can pursue your goals. To learn more, visit EGSIFinancial.com