Episode # 10 - Navigating Social Security After Life Changes: Ensuring Financial Stability Post-Divorce and Loss

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Retire As You Desire

Bill Bloom

120 episodes

1 day ago

Navigating the ever-changing waters of life can be rough, but when it comes to retirement you don’t need to do it alone. The Retire As You Desire Podcast asks those hard questions regarding finances in preparation for your retirement with Bill Bloom RICP®, principal of Bloom Financial Company and your host. Join Bill, a money simplifier, each week by discussing intentional questions to propel you toward your desirable retirement. Understanding retirement does not have to be difficult. If you understand, then you will make better decisions on how to have a happy and successful retirement for you and your family. There is one life to live--so take the helm, plan ahead, ask questions, and tune in with Bill on the Retire As You Desire Podcast! For a list of important disclosures, please visit my website at bloomfinancialco.com. Views expressed in this podcast are for general informational purposes only and are not intended to provide or be a substitute for specific professional financial, tax or legal advice or recommendations for any individuals. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed.

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Episode # 10 - Navigating Social Security After Life Changes: Ensuring Financial Stability Post-Divorce and Loss

Retire As You Desire

48 minutes 56 seconds

1 year ago

Episode # 10 - Navigating Social Security After Life Changes: Ensuring Financial Stability Post-Divorce and Loss

In this episode, we dive deep into the complexities of retirement planning, focusing on how divorce, widowhood, and disability can impact your future retirement income. Whether you’re navigating these life changes or planning ahead, this episode offers crucial insights and actionable strategies to help you optimize your retirement benefits.

Key Topics Covered:

👉 Divorce and Retirement Income:

Understand the Impact: Learn how divorce affects retirement income and Social Security benefits.
Maximize Benefits: Discover how retirees can leverage Social Security benefits even after multiple divorces.
Case Study: Explore the story of Robert and his three marriages to see how ex-spouses might receive higher benefits based on marriage duration.

👉 Widowhood and Retirement Income:

Strategic Planning: Find out how widowed individuals can secure higher Social Security benefits.
Real-Life Example: Learn from Robert's third wife, Alice, who qualified for full benefits after his passing.
Optimize Survivor Income: Understand the importance of planning and effective communication with the Social Security Administration.

👉 Disability in Retirement:

Early Benefits: Explore the opportunities available for starting benefits earlier than the standard retirement age of 62.
Navigating Disability: Get insights into the nuances of disability benefits and how to plan effectively.

👉 Exclusions from Social Security Benefits:

Eligibility Criteria: Discover who may be excluded from receiving Social Security benefits.
Seek Guidance: Learn the importance of understanding eligibility and seeking professional advice to maximize retirement income.

Why You Should Watch:

Comprehensive Insights: Gain a thorough understanding of how these critical life events affect retirement planning.
Expert Strategies: Access actionable advice to optimize your Social Security benefits and secure financial stability.
Proactive Planning: Emphasize the value of seeking professional guidance and utilizing available resources for effective retirement planning.

Tune in to this episode for essential strategies and expert advice on navigating divorce, widowhood, and disability in retirement planning. Don’t miss out on valuable tips—subscribe to our channel for more insights and updates. Join us every [Day] at [Time] for new episodes!

📞 Need Personalized Advice? Contact us at 773-326-7000 or email Bill@Bloomfinancial.us for customized retirement planning.

#RetirementPlanning #SocialSecurityBenefits #DivorceImpact #WidowhoodStrategy #DisabilityBenefits #FinancialPlanning #RetireAsYouDesire

TIMESTAMPS:

00:00:00 - Introduction to Retirement Planning: Welcome back to the Retire As You Desire show. Providing valuable information on retirement planning and income strategies.
00:03:04 - Robert's Three Marriages: A look into Robert's three marriages and the impact on Social Security benefits.
00:07:10 - Benefits for Ex-Spouses: Exploring how ex-spouses can qualify for Social Security benefits based on a former spouse's work history.
00:08:03 - Impact of Robert's Passing: Discussing the implications of Robert's passing on his ex-spouses' Social Security benefits.
00:10:09 - Maximizing Social Security Income: Tips on maximizing Social Security income as a divorced individual and understanding the rules.