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