Ep 28: Retirement Decisions That Can’t Be Undone

Some decisions you make are hard to go back to change, and some you can’t change at all. And there are many decisions in retirement planning that can’t be undone, so you want to make sure that you make the right call.
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On this episode of The Retirement Huddle podcast, Mark Howard shares the types of retirement decisions that can’t be undone and how you can make the right decisions to start with.

When you start Social Security

If you start your benefit at 62, then get to 66 and realize you should have waited. Sorry, it’s too late.

“When to start Social Security, I think, ranks up there in the top 1 or 2 or 3 most important decisions when it comes to retirement,” said Mark.

You need a financial advisor in your corner, helping you make these decisions.

Electing spousal benefits on your pension (or not)

With almost any pension, once you start the monthly income, it’s too late to make changes to spousal/survivor benefit options.

Getting life insurance

Life insurance will get more expensive as you age, but you do have the option of waiting to get it later. Unless you get diagnosed with something that either makes you uninsurable or makes your premiums so high that you can’t afford it—then it’s too late.

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.

Today’s Rundown:

[1:59] – Social Security

[3:47] – Spousal benefits

[5:48] – Life insurance

[7:02] – Retirement date

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Show Hosts

The “Coach” who will help you achieve a successful retirement future and the radio veteran who brings it all together.

Mark Howard - The Coach

Mark Howard is the President of Howard Financial Group and has more than 27 years of experience in the insurance, wealth management and financial services industry. He's also the host of the Retirement Huddle Podcast and radio show on 97.7 WTKS.

Ron Stutts - The Voice

Ron Stutts has been a professional communicator for more than 40 years. With a successful radio career that spans decades, Ron's voice has been heard on dozens of radio stations and podcasts across the country.

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