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Justin Pritchard, CFP® on Retirement Planning
United States
เข้าร่วมเมื่อ 30 เม.ย. 2018
Justin Pritchard, CFP®, MBA, RMA® covers retirement planning and investing.
☑️ Quoted in the New York Times, Consumer Reports, WSJ, and more
☑️ Fee-only advice
☑️ Justin Pritchard is a CERTIFIED FINANCIAL PLANNER™ practitioner
☑️ Over 15 years of experience helping clients
☑️ Serving clients nationwide
Flat-fee and one-time financial planning options are available. Asset management services (optional-you don't necessarily need to invest anything) are also available.
Learn about retirement planning, taking income in retirement, investing, Social Security, retirement taxes, and more. Get information and strategies for 401(k), 403(b), IRA, and other retirement accounts.
Approach Financial, Inc. is registered as an investment adviser in the state of Colorado and is licensed to do business in any state where registered or otherwise exempt from registration.
Publications mentioned do not endorse Justin Pritchard, nor does Justin endorse those publications.
Social Security Survivor Benefits: Avoid Common Mistakes
It’s tragic when people get this wrong, and it happens all the time. Survivor benefits for spouses and ex-spouses are an important part of Social Security benefits. It’s easy to confuse spousal benefits with survivor benefits-but the calculations and rules are very different.
🌞 Subscribe to this channel (it's free): th-cam.com/channels/FFNzgGX4UyGQk12KL38I1Q.html
What is a Social Security survivor benefit? It’s a payment that a surviving spouse or divorced ex-spouse gets after somebody dies. That deceased person’s benefit can continue for the survivor, and it may lead to bigger benefits than the survivor was previously getting. But the survivor doesn’t continue getting their payment (if any) with a survivor benefit on top of it. In married households, the smaller payment goes away, leaving the household with less total income.
How much is the survivor benefit? A survivor can get up to 100% of:
1) what the deceased was getting,
2) the deceased’s FRA amount, or
3) what they would have been eligible for at the time of death.
Ultimately, it depends whether or not the deceased already filed and the age of filing for both people. We’ll cover that in the video.
To qualify for benefits, spouses and ex-spouses must meet specific criteria. While there are always exceptions and complications (so check with SSA), spouses must be married for at least 9 months, while divorced spouses must have been married for at least 10 years. There are survivor benefits for eligible children and parents as well, but this video focuses on current and former spouses.
Get free retirement planning resources: approachfp.com/2-downloads/
🔑 9 Keys to Retirement Planning
🐢 6 Safest Investments
RESOURCES:
www.pbs.org/newshour/nation/what-social-securitys-survivors-planner-wont-tell-you-about-taking-widows-benefits
www.approachfp.com/social-security-couples-strategy/
www.approachfp.com/social-security-survivor-benefit-calculator-for-spouses-and-ex-spouses/
Getting 50% spousal (not survivor!) benefits: th-cam.com/video/_2rkjTuJZ-c/w-d-xo.html
Learn about working with me at approachfp.com/
✔️ Flat-fee options
✔️ One-time projects available
✔️ Investment advice (optional)
Justin Pritchard, CFP® is a fee-only fiduciary advisor who can work with clients in Colorado and most other states.
CHAPTERS:
00:00 Why Survivor Benefits Matter
00:27 Common Mistakes
01:13 Example - What Is a Survivor Benefit From Social Security?
02:48 Death Before Claiming Benefits
03:50 Full Retirement Age for Survivor Benefits
04:45 How to Maximize Survivor Benefits
07:59 Who Is Eligible?
08:45 Why Survivor Benefits Get Reduced
IMPORTANT:
It's impossible to cover everything you need to know in a video like this. The only thing that's certain is that you need more information than this. Always consult with a CPA before making decisions or filing a tax return. This is general information and entertainment, and is not created with any knowledge of your circumstances. As a result, you need to speak with your own tax, legal, and financial professional who is familiar with your details. This video is not a substitute for individualized, personal advice. Please verify with your plan administrator when employer plans are involved. This information may have errors or omissions, may be outdated, or may not be applicable to your situation. Investments are not bank guaranteed and may lose money. Opinions expressed are as of the date of the recording and are subject to change. “Likes” should not be considered a positive reflection of the investment advisory services offered by Approach Financial, Inc. The Comments section contains opinions that are not the opinions of Approach Financial, Inc., and you should view all comments with skepticism. Approach Financial, Inc. is registered as an investment adviser in the state of Colorado and is licensed to do business in any state where registered or otherwise exempt from registration.
🌞 Subscribe to this channel (it's free): th-cam.com/channels/FFNzgGX4UyGQk12KL38I1Q.html
What is a Social Security survivor benefit? It’s a payment that a surviving spouse or divorced ex-spouse gets after somebody dies. That deceased person’s benefit can continue for the survivor, and it may lead to bigger benefits than the survivor was previously getting. But the survivor doesn’t continue getting their payment (if any) with a survivor benefit on top of it. In married households, the smaller payment goes away, leaving the household with less total income.
How much is the survivor benefit? A survivor can get up to 100% of:
1) what the deceased was getting,
2) the deceased’s FRA amount, or
3) what they would have been eligible for at the time of death.
Ultimately, it depends whether or not the deceased already filed and the age of filing for both people. We’ll cover that in the video.
To qualify for benefits, spouses and ex-spouses must meet specific criteria. While there are always exceptions and complications (so check with SSA), spouses must be married for at least 9 months, while divorced spouses must have been married for at least 10 years. There are survivor benefits for eligible children and parents as well, but this video focuses on current and former spouses.
Get free retirement planning resources: approachfp.com/2-downloads/
🔑 9 Keys to Retirement Planning
🐢 6 Safest Investments
RESOURCES:
www.pbs.org/newshour/nation/what-social-securitys-survivors-planner-wont-tell-you-about-taking-widows-benefits
www.approachfp.com/social-security-couples-strategy/
www.approachfp.com/social-security-survivor-benefit-calculator-for-spouses-and-ex-spouses/
Getting 50% spousal (not survivor!) benefits: th-cam.com/video/_2rkjTuJZ-c/w-d-xo.html
Learn about working with me at approachfp.com/
✔️ Flat-fee options
✔️ One-time projects available
✔️ Investment advice (optional)
Justin Pritchard, CFP® is a fee-only fiduciary advisor who can work with clients in Colorado and most other states.
CHAPTERS:
00:00 Why Survivor Benefits Matter
00:27 Common Mistakes
01:13 Example - What Is a Survivor Benefit From Social Security?
02:48 Death Before Claiming Benefits
03:50 Full Retirement Age for Survivor Benefits
04:45 How to Maximize Survivor Benefits
07:59 Who Is Eligible?
08:45 Why Survivor Benefits Get Reduced
IMPORTANT:
It's impossible to cover everything you need to know in a video like this. The only thing that's certain is that you need more information than this. Always consult with a CPA before making decisions or filing a tax return. This is general information and entertainment, and is not created with any knowledge of your circumstances. As a result, you need to speak with your own tax, legal, and financial professional who is familiar with your details. This video is not a substitute for individualized, personal advice. Please verify with your plan administrator when employer plans are involved. This information may have errors or omissions, may be outdated, or may not be applicable to your situation. Investments are not bank guaranteed and may lose money. Opinions expressed are as of the date of the recording and are subject to change. “Likes” should not be considered a positive reflection of the investment advisory services offered by Approach Financial, Inc. The Comments section contains opinions that are not the opinions of Approach Financial, Inc., and you should view all comments with skepticism. Approach Financial, Inc. is registered as an investment adviser in the state of Colorado and is licensed to do business in any state where registered or otherwise exempt from registration.
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