Show Notes
Welcome back to part two of our Women's History Month series! Josh and I are continuing our deep dive into retirement planning issues that specifically impact women, with a focus on the LGBTQ+ community.
In this episode, we tackle one of the most critical decisions you'll make in retirement: when to claim Social Security. Should you take it at 62, or is waiting until 70 the smarter move? I break down the key claiming decisions, including how delaying your benefits can give you an 8% annual increase—essentially an 8% raise every year you wait past your full retirement age. For women who statistically live longer than men, and especially for lesbian couples where both partners may have longer life expectancies, this decision becomes even more crucial.
As a Registered Social Security Analyst, I explain how spousal and survivor benefits work for married couples, and why coordinating your Social Security strategy as a household is absolutely essential. The higher-earning spouse's benefit often becomes the survivor benefit, so maximizing that monthly check can make a huge difference later in life. Since marriage equality only became nationwide in 2015, many same-sex couples haven't had as much time to plan for these coordinated strategies—making it even more important to get it right.
We also explore the power of financial education and confidence building.
This episode is packed with actionable strategies and real solutions. Remember, knowledge is power, but applied knowledge is true power.
Schedule your free financial consultation at TakePrideInRetirement.com or call 855-246-9211.
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Take Pride in Retirement is proud to be named one of the top Pride podcasts on the internet by FeedSpot. For more, go to https://blog.feedspot.com/pride_podcasts
About Take Pride in Retirement:
Take Pride in Retirement is a podcast dedicated to retirement planning solutions for the LGBTQ community. Host Matt McClure, a licensed fiduciary financial advisor, shares strategies to protect your hard-earned money while pursuing market-like growth.
Matt holds the RSSA® credential as a Registered Social Security Analyst®, helping clients optimize their Social Security filing strategies to potentially increase lifetime income. He’s also a Certified Annuity Specialist® (CAS®), a designation earned through a 135+ hour graduate-level program in fixed-rate and variable annuities from the Institute of Business & Finance.
Based in Georgia with his husband and two dogs, Matt spent over a decade in New York City, working with The Wall Street Journal Radio Network, NY1, and WCBS Newsradio 880. A career highlight includes reporting from the floor of the New York Stock Exchange.