As couples approach retirement, their biggest question is typically whether they've saved enough to cover their expenses and enjoy the retirement they've worked so hard for. But what happens when one spouse passes away? The decisions you make today will undoubtedly affect the surviving spouse's income, taxes, investments, and overall financial security.

In this episode, SHP Financial co-founder Matthew Peck is once again joined by Nick Nelson, VP of Advisory Solutions, to discuss why spousal planning is such an important (and often overlooked) part of retirement planning. They explain why both spouses should be involved in the financial planning process and how preparing in advance can provide greater confidence and continuity when the unexpected happens.

Ultimately, spousal planning is about preparing for the difficult questions before you're forced to answer them under duress. Matt and Nick share how planning ahead can provide greater confidence that both spouses understand the plan, know what to do when the unexpected happens, and have the right people in place to help guide them through it.

In this podcast interview, you'll learn:

• Why both spouses should understand the basics of their financial plan.
• How Social Security and pension decisions can affect a surviving spouse.
• Why expenses may not decrease significantly after one spouse passes away.
• How losing a spouse can dramatically change your retirement tax strategy.
• Why inherited IRA decisions require careful planning for surviving spouses.
• How beneficiaries, trusts, and proper account titling can help avoid costly mistakes.

Want the Full Show Notes?

To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast

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