Financial Planning Essentials: Social Security and Life Insurance

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.

 

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.

 

Check out the life insurance calculator: https://www.bankrate.com/insurance/life-insurance/life-insurance-calculator/

 

For additional resources or to contact David, visit us online at http://coveryourassetskc.com or call 913-317-1414.