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An Informational Retirement Podcast Dedicated To Helping You:​

Pension Selection, Challenges of Age Gaps, The Forgotten Costs – Mailbag Episode

In today’s show, we’re going to open up the listener mailbag and answer questions about pension selections, questions about the challenges you could face if there’s an age gap between you and your spouse, and then discuss the hidden costs you might not be seeing in your retirement income.

 

Each of these questions we’ll tackle today cover pretty common scenarios so you might find wondering about these down the road. Scott will provide some great thoughts and insight, recommendations, and strategies that could potentially be used in these situations. We always enjoy taking the strategies and tactics discussed on the podcast and apply them to some real life scenarios and that’s exactly what we’ll do today.

 

Key discussion points in this episode:

  • Should I even bother taking the spousal continuation option for my wife to keep getting the monthly payment if she outlives me?
  • My husband is 11 years old than me, and I probably have better genes than he does too, so it seems likely that I’ll be a widow for a significant portion of my retirement years. What sort of financial planning challenges does this create for me?
  • I need about $5,000 to live on each month in retirement, and my Social Security and pension will total about $5,300. Does this mean I’ll be able to leave my entire 401k behind to my son?

 

Want to get in touch?

Web: https://sierensfinancialgroup.com/

Email: office@sierensfinancialgroup.com

Phone: 847-235-6989

Read more and get additional financial resources here: http://lifemoneyshow.com 

Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ 

BROWSE SHOWS BY TOPIC... Retirement Investing Finances

SHOW NOTES

Pension Selection, Challenges of Age Gaps, The Forgotten Costs – Mailbag Episode

In today’s show, we’re going to open up the listener mailbag and answer questions about pension selections, questions about the challenges you could face if there’s an age gap...

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Meet Your Host

Scott Sierens, financial advisor at Sierens Financial Group, will provide thoughts, strategies, and ideas on each episode to help you thrive in life, wealth and retirement. The goal is to take complex financial subjects and make them simple and easy to understand so you can feel confident to take action, enjoy life, and eliminate financial stress and anxiety.

Scott, along with guests from across various industries, will cover topics such as tax savings strategies, investments and wealth management, IRAs, 401(k)s, retirement planning, retirement income strategies, pensions, estate planning, social security, healthcare, and much more.

Retirement isn't an age or number. It's finding the balance between living life today and feeling financially confident about YOUR tomorrow.