Most retirement plans are built for two healthy people. Real life brings a paycheck that stops, a lost Social Security check, a care need, or aging parents who need help. We help you see those moments coming and plan for them now.
A surviving spouse generally keeps the larger of the two Social Security benefits, not both. A pension may shrink or stop too, depending on the option chosen at retirement.
Meanwhile, the mortgage or rent, utilities, insurance, and medical costs don’t get cut in half, and the survivor may soon file taxes as a single person, which can mean a higher tax bill on similar income. That drop is the income cliff, and it often lands at the hardest moment of someone’s life.
Could either of you comfortably manage the household income alone?
Imagine a couple receiving two Social Security checks and a pension. When one spouse dies, the smaller Social Security check generally stops, and the pension might be reduced depending on the survivor option chosen. Yet housing, utilities and many daily expenses continue. A survivor-income review can help uncover the potential shortfall before a loss occurs.
Illustrative example only. Actual benefits and pension rules vary.
Which income changes are ahead, and how would you replace the difference?
A paycheck stops, a pension supplement ends, or health insurance costs rise before Medicare begins at 65. We compare what you’ll spend with the income you can count on, now and over a long retirement.
Have you looked at it from both spouses’ point of view?
Claiming anywhere from 62 to 70 changes your check for life, and your spouse’s survivor benefit too. Age differences and pensions matter. As a National Social Security Advisor, Donna helps couples coordinate that timing, including planning around Medicare’s IRMAA surcharges.
Who would care for you, and how would it be funded?
Who will take care of you if your spouse no longer can, or is no longer here? A care need can drain savings and leave the healthy spouse short. Planning covers caregivers, decision-makers, where you’d live, and how care is paid for.
Could one big-income year raise your Medicare premiums two years later?
Education first. Understand your choices, without pressure.
Would predictable income make a difference? How much flexibility do you need? Is an annuity the right vehicle for part of your portfolio, or could another strategy serve you better?
An annuity is one option, not a starting assumption. We consider the whole retirement picture before discussing any solution.
Explore Annuities →Social Security information is educational and general in nature. DB2 Financial Services is not affiliated with or endorsed by the Social Security Administration or any government agency. Your benefits depend on your own earnings record and choices.
Could life insurance be a missing piece in your retirement strategy?
Retirement planning is not only about making sure your income lasts. It is also about protecting the people you love and the legacy you hope to leave behind.
Imagine the difference a financial legacy could make in someone else's life.
Life insurance isn't right for everyone, but it may be one piece of a coordinated retirement strategy.
Explore Life Insurance →
When your income plan is in place, you can spend less time worrying and more time doing what you love. For Donna and David, that’s miles of open road on two (and three) wheels.
What’s on your list?
Book a Retirement DiscoveryWe begin with your goals, answer your questions, and explore the choices that fit your circumstances.