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In this series, “Social Security Secrets,” experts Larry Kotlikoff and Phil Moeller explain the most important things you need to know about this valuable retirement benefit. Kotlikoff and Moeller are co-authors of the New York Times best-seller Get What’s Yours: The Secrets to Maxing Out Your Social Security.

According to Larry Kotlikoff and Phil Moeller, co-authors of Get What's Yours: The Secrets to Maxing Out Your Social Security, there are three mistakes that people make when it comes to filing for Social Security.

  1. They claim their benefits too early. Sure, you can file when you hit 62, but you'll get more money if you wait a few years to file.
  2. They don't think about all the extra benefits they can claim. If you have young children, you can claim benefits on them. If you are divorced, you might want to claim benefits based on your ex-spouse's Social Security.
  3. They rush. You can make costly mistakes with no chance for a do-over.