You Bet Your Life – Retirement Planning

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[vimeo id=”39503447″ width=”625″ height=”352″]

The Financial Risks Of Retirees

The Financial Risks Of Retirees

There are two ways American retirees literally bet their lives. One is waiting too long to get a reverse mortgage. Watch the video and see what other way retirees bet on their own lives.


Ernie April 2, 2012 at 6:56 am

Good insights with probabilities with regards to future life and interest rate expectancy. I attempt to educate my clients accordingly.

Jim Grasmehr April 2, 2012 at 12:01 pm

Great video would like to be able to send via email to potential clients.

Shannon Hicks April 2, 2012 at 1:11 pm

Thank you Jim. Feel free to forward them the link to this post.

Sharon Falvey April 2, 2012 at 1:14 pm

Shannon: it really comes down to an old adage: A bird in the hand is worth two in the bush.

Shannon Hicks April 2, 2012 at 1:21 pm

Very well said Sharon!

Tom MacDonald April 2, 2012 at 4:10 pm

Would be nice if we could get some national publications to pick up on that story.
If we say it, we are perceived as ‘twisting arms’.

ed frankel April 3, 2012 at 8:21 am

One other problem is the death benefit payout to a spouse if one dies prior to electing social security.

Shannon Hicks April 3, 2012 at 10:50 am

Excellent point, much like survivor payouts for pensions. The surviving spouse usually gets the equivalent of the larger social security payment losing the smaller one… a risk indeed.

James E. Veale, CPA, MBT April 4, 2012 at 11:27 am

It is outrageous that some in our industry blindly recommend this terrible idea to seniors. Few have an expertise in Social Security benefits.

Not even all CFPs are knowledgeable on this point. This one of the biggest decisions seniors make. For more affluent seniors, Social Security can have a pre-tax value of over $1,000,000.

I fully support the idea that those over 60 should know the ins and outs of Social Security benefits and what course of action is best suited for them. Dollars invested in obtaining advice from someone who is competent and experienced in this field could be the wisest investment some seniors make.


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