Episode 266: Financial Planning Essentials: Social Security and Life Insurance
Episode 266
Financial Planning Essentials: Social Security and Life Insurance
Equipping Points:
Today we are covering two different listener questions. James is asking about starting Social Security at 62. You might be amazed how many times I get that question in my office. And then Barry wants to talk through life insurance, seems to think he has a lot of it and wants to know whether he should cancel some of it. These are two core areas of planning so let’s talk through how they should come to a decision.
If you’ve ever wondered how we work through these major planning items with clients, today’s show will pull back the curtain a bit and really get into the details of the process. We’ll tell you what tools we use and what factors we want to consider when dealing with both life insurance and Social Security. So whether you’re specifically curious about these topics or not, this episode will give you some great insight into making big financial decisions.
Here’s some of what we discuss in this episode:
- We’ll take you through the process for how we determine Social Security claiming strategies.
- Why it might not be the best idea for this person to take Social Security at 62 to pay off their mortgage.
- The questions you want to answer before getting rid of a life insurance policy.
- The different insurance products that you might look into.
Today's Takeaway:
Some of these episodes were recorded under the branding of KC Financial Advisors, which has since rebranded as CreativeOne Advisors Group. Any references to KC Financial Advisors should now be understood as referring to CreativeOne Advisors Group.
