Most retirees never plan for the financial impact of losing a spouse — here's what you need to know before it happens.
In this episode, we discuss a crucial but often overlooked part of retirement planning: preparing for the loss of a spouse. If you're planning for retirement, understanding what happens financially when a spouse passes away is essential. We cover the impact on Social Security benefits, pension decisions, retirement income changes, tax implications, and the importance of estate planning. Whether you're nearing retirement or already retired, these personal finance strategies can help you protect your future and minimize financial stress during difficult times. Learn how to adjust your financial plan, update beneficiaries, avoid probate, and build a support system to navigate the emotional and financial aftermath of losing a spouse. Don't leave these important conversations for later — proactive planning is key to a secure retirement!
👉 Subscribe for more expert advice on personal finance, retirement income strategies, and wealth management.
#PersonalFinance #RetirementPlanning #SocialSecurity #EstatePlanning #WidowPlanning #FinancialAdvisor #RetirementIncome
⏱ CHAPTERS 00:00 – Intro: Why this topic matters 00:23 – Planning for the unexpected death of a spouse 01:08 – How retirement income changes 02:26 – Understanding Social Security survivor benefits 04:35 – Pension decisions and survivor options 05:00 – How taxes change for surviving spouses 06:36 – Updating your retirement tax plan 07:25 – Planning for potential spending increases 09:05 – Probate, estate planning, and account registrations 12:43 – Simplifying finances for the surviving spouse 13:45 – Emotional considerations and building a support system 14:25 – Final thoughts
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.