Couverture de The Social Security Decision Married Couples Get Wrong

The Social Security Decision Married Couples Get Wrong

The Social Security Decision Married Couples Get Wrong

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 If one spouse has a much higher Social Security benefit, claiming age can permanently affect the surviving spouse’s retirement income. Many married couples approach Social Security claiming as a simple “62 vs 67 vs 70” decision. In reality, the claiming age of the higher-earning spouse often determines the lifetime income of the surviving spouse. In this video, I walk through a real retirement planning scenario showing how Social Security works for married couples, including spousal benefits and survivor benefits. Key principle: For a married couple, Social Security is not only a retirement benefit. It is also longevity insurance. When one spouse dies, the surviving spouse generally keeps only the higher benefit. Because of this rule, the claiming age of the higher earner can permanently change the surviving spouse’s retirement income. Topics explained in this video: • How Social Security survivor benefits work • When the higher earner should delay to age 70 • When the lower earner may claim early • Why break-even age charts can be misleading • How a younger spouse changes the optimal strategy • The difference between spousal benefits and survivor benefits Important rule explained: Taking a reduced spousal benefit early does NOT reduce the future survivor benefit. The surviving spouse may step up to the full benefit the higher earner was receiving. #SocialSecurity #RetirementPlanning #WidowBenefits #RetirementIncome #FinancialPlanning #SurvivorBenefits #ClaimingStrategy #LongevityRisk #RetirementStrategy #wealthprotection 00:00-Social Security Age Gap Intro 01:06-The Case: A Simple Decision That Wasn't Simple 03:36-The Break-Even Chart is Looking at the Wrong Person 04:17-The Numbers That Changed Everything 05:32-The Emotional Reaction Almost Every Husband Has 06:25-The Moment That Actually Matters 07:19-The Behavioral Reality Most Retirement Plans Ignore 08:22-Delaying Social Security Isn't a Return Strategy 09:14-What Delaying Actually Does 09:57-The Expense Problem After The First Death 11:17-The Simple Framework Couples Should Use ⭐Support the Channel by Becoming a Community Member⭐ 👇https://www.youtube.com/channel/UC13s0hQVkEv-azgzhOe8QXA/join [About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management. I provide financial planning for business owners and their families that makes sense. We strive to help you: *Optimize Your Cash Flow *Minimize Your Taxes *Build Your Net Worth *Create a Lasting Legacy ➡️ ➡️Free Guide Here: https://celestialwm.com/ptpebook-go/⬅️⬅️ Do you watch Dave Ramsey, Robert Kiyosaki, Grant Cardone, Gary Vee, Graham Stephan, Meet Kevin, Ryan Scribner, Replace Your Mortgage, Project Life Mastery, Russel Brunson, Alex Becker, Tanner J Fox, Refusing to Settle, Dan Lok, Jeff Rose, Tai Lopez, Bigger Pockets, or Pat Flynn? Then you'll love our channel! Be sure to subscribe and I'll see you in the comments! Top Financial Advisor Baltimore. Top Financial Planner Maryland. Affiliate Link Disclaimer: I only recommend products I would use myself and all opinions expressed here are our own. This post may contain affiliate links that at no additional cost to you, I may earn a small commission. Read full privacy policy at celestialwm.com. Celestial Wealth Management LLC receives compensation from YouTube for the presence of advertising before, after, and during this video content. Celestial Wealth Management LLC does not control the content or presence of any advertisements. The presence of any advertisement does not constitute an endorsement of the ad, company, entity, or product by Celestial Wealth Management LLC. DISCLOSURES Celestial Wealth Management, LLC is registered as an investment adviser in the State of Maryland and Texas. Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments. This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized. Nothing provided here constitutes tax advice. Individuals should seek the advice of their own tax advisor for specific information regarding tax consequences of investments. Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment ...
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