On This Episode
Let’s talk about some of the areas of your financial life where you might be flirting with disaster and don’t even know it. Disaster and retirement are not two words you want to be associated with each other.
There may be some key areas of financial planning that you might not think about. We’ll explain how you could be flirting with disaster.
Widowed spouse in the dark about their financial situation
We’ve seen this happen, where one spouse has no idea what their finances look like. When we do an initial consultation, we require both spouses to be at the meeting.
It’s a disservice to have one spouse that doesn’t want to get involved, and we sometimes won’t take on those clients.
Market crash forces spouse to work longer or come out of retirement
We do comprehensive financial planning for our clients. People who retired in 2007 had a much different experience than those who retired in 2009 after the crash, for example.
If you do all the right things and set up a financial plan, the market fluctuations won’t matter as much.
Listen to the full episode or use the timestamps to jump to a specific section. Thanks for listening! We’ll be back for another show every other Thursday.
I don’t know how anybody can just live on Social Security. If they are, they’re not doing much.
- Mark Silverman, CFP®
2:41 – Widowed spouse out of the loop
5:40 – Market crash forces work
7:37 – Family legacies and long-term care
9:16 – Social Security
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